17th January - Is GDP good for us?

I've been wondering for how long we've measured our success by GDP and whether it's the best way. Occasionally other people feed into my wonderings - a friend told me that if I grow my own food it doesn't count on the GDP scale but if I buy it at the supermarket it does. Even David Cameron recently questioned the value of using GDP and suggested we have a 'well-being' measure, though I haven't heard much about that from him recently.
Isn't it time we discussed how we came to see economic growth as the only thing which matters in life? I reckon if we all get together to have a jolly Christmas with our loved ones it counts little on the GDP scale unless we over indulge in food and drink and are persuaded to buy each other gifts which we probably can't afford.  The sharing and fun doesn't count. How about looking at the economic impact of such events as this winter's floods?  I was thinking that the floods were pretty good for the economy:  all that pumping and drying equipment hired out, all that furniture and equipment to be replaced, all that repair and decorating to be done.  Set against that is the work days lost and the businesses unable to operate.  I wonder how that looks on the GDP balance sheet? (Of course, the misery and pain caused aren't included).