Do Indicators Still Have a Meaning?

The issue of the relevance of economic indicators – and above all with GDP – is a real long term interrogation in the economic debate. The Gross Domestic Product is particularly contested, because often confused, in its political and media treatment, with the actual measure of a country’s wealth. This definition conflicts with the perception of the population, which does not necessarily feel richer when GDP increases. More generally, the description of the economic health of states, enterprises or households by a series of figures dehumanizes the debate and opens the door to manipulation through a selective interpretation of the results.

Under the double influence of the search for new measures (ecological impact, CSR performance, etc.) and more precise or intuitive tools than GDP to measure wealth, the various indicators analysed multiply (GNP, IDH, IPH, ISS, ecological footprint, etc.). What are performance indicators worth? Does the calculation of large balances still make sense? What is the value of indicators if their relevance is debated? Is the problem rather the lack of pedagogy on the importance and meaning of indicators? Are they relevant to guide the transformation of society?