EXERCISE 1.3 WHAT SHOULD WE MEASURE? While campaigning for the US presidency on 18 March 1968, Senator Robert Kennedy gave a famous speech questioning ‘the mere accumulation of material things’ in American society, and why, among other things, air pollution, cigarette advertising and jails were counted when the US measured its living standards, but health, education or devotion to your country were not. He argued that ‘it measures everything, in short, except that which makes life worthwhile.’ Read his speech in full or listen to a sound recording of it. In the full text, which goods does he list as being included in a measure of GDP? Do you think these should be included in such a measure, and why? Which goods does he list in the full text as missing from the measure? Do you think they should be included, and why?