One of the reasons that Real Gross Domestic Product is not synonymous with social welfare is

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Real Gross Domestic Product (GDP) only measures the monetary value of all final goods and services produced within a country's borders during a specified period. It does not take into account the distribution of income, the quality of life, or the satisfaction of people's wants and needs. For example, spending on military hardware is treated the same as spending on education, even though the latter may have more significant long-term benefits for society. Furthermore, Real GDP does not consider the negative externalities associated with production, such as pollution or resource depletion. Therefore, Real GDP is not synonymous with social welfare.

One of the Reasons That Real Gross Domestic Product Is