We need an indicator that estimates the wealth of nations--natural, human, and manufactured.
The United Nations is now proposing the "Inclusive Wealth Indicator" as a challenge to the myopic focus on short-term profits and economic capital inherent in GDP. In its early findings, it found that natural capital declined 46% in Brazil and 31% in India during the last 17 years. This reduced the countries’ blazing GDP growth rates to a more modest "inclusive wealth" increase of 3% in Brazil and 9% in India. Much less to get excited about.