GDP has long served as an indicator of development. In terms of traditional utility theory, there was an apparent connection between more income and higher well-being, measured by the consumption levels of food, shelter, clothing, and health care. However, studies have revealed that higher income levels do not necessarily mean greater well-being especially in the context of adverse impacts on climate change, biodiversity loss, inter-species balance, lack of access to basic amenities, social inequality, and increased stress levels.