ARTICLE PUBLISHED: “Why the Gross Domestic Product Statistic is obsolete”

Professor Jorge Sá (PhD Columbia University; MBA Drucker University; Jean Monnet Chair; Peter Drucker speaker) recently published the article “Why the Gross Domestic Product Statistic is obsolete” on the academic blind-referee Review of Economics and Finance (UK), volume 21, 2023.

In this empirically researched article, the cases of Luxembourg, Ireland, Greece and Portugal were studied to analyse the differences found using the different economic statistical measures.

In the past, as a way of comparing living standards, GDP was the commonly used measure. However, today, due to globalisation, fragmentation of production, increased financial flows and movement of people, it has become an obsolete measure, national income being incomparably better.

And although national income is the statistic generally used by the World Bank, this is an exception to most other world institutions and economists who still use GDP. Thus, the result is misleading the public in general and policy makers and governments, as they lack a true indication of how the economy is doing and in more extreme situations there are no warning signals, no “smoking gun” of dangers ahead

(see full article below).


Jorge Sá recently retired from Professor at IESE associated AESE (site:

He is a Peter Drucker expert and a speaker on Peter Drucker, with whom he studied and who offered letters of recommendation for his books and endorsements for his work.

His books have been translated into twelve languages, published over thirty articles in blind refereed academic reviews and journals, has addressed conferences and given seminars at several institutions (e.g. TED USA – –, London Business School, Oxford, IESE, George Washington University, Peter Drucker Society of Europe, European Commission, etc.), and has worked as private consultant, non-executive director or taught in the executive programs of multinational companies such as: Coca-Cola, SHELL, Unisys, IBM, Glaxo, British Petroleum – BP, Makro (Metro group), Intermarché, Scottish & Newcastle, Sara Lee, Total, Johnson & Johnson, Pfizer, Henkel, McDonald’s, UnitedHealth group, Vodafone, Merck, Volkswagen Group, Microsoft, etc.

He speaks and writes (by alphabetical order) English, French, German, Portuguese and Spanish.

His hobbies are soccer (degree as professional coach) and the relation between military history (battles) and business administration, having written several books on the topic.

For more information on Professor Sá’s conferences please check our website at: or contact us at .

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