GDP has always excluded parent childcare, volunteering and other unpaid work from its calculation. More recently, it has failed to properly account for much of the digital economy. For instance, Facebook is only counted by its advertising revenue ($40 per user per year) but our willingness to pay for the service is much higher at $600 a year. These and other omissions explain why, to quote John F Kennedy, “GDP measures everything except that which makes life worthwhile”.