The Gross domestic product measures the value of all final goods and services produced in a period.
This has some limitations. For example, if a car hits a lightpost and both need to be repaired and some parts replaced, that contributes to the GDP, even though at the end we're in roughly the same situation as before and the reparation process has used resources (labour and material) that might have been used elsewhere. From Wikipedia:
The UK's Natural Capital Committee highlighted the shortcomings of GDP in its advice to the UK Government in 2013, pointing out that GDP "focusses on flows, not stocks. As a result an economy can run down its assets yet, at the same time, record high levels of GDP growth, until a point is reached where the depleted assets act as a check on future growth". They then went on to say that "it is apparent that the recorded GDP growth rate overstates the sustainable growth rate. Broader measures of wellbeing and wealth are needed for this and there is a danger that short-term decisions based solely on what is currently measured by national accounts may prove to be costly in the long-term".
I'm aware of numerous alternative measures focussing well-being, such as the Human Development Index,Gross National Happiness, and the Happy Planet Index. They don't really measure either wealth or well-being (the latter may be impossible to measure), and their exact definition is somewhat arbitrary.
Is there any reasonably well-established alternative to GDP that measures the total value of the stocks of a country? Wikipedia has a financial assets list, but it relates only to households (and on this list, Greece is almost twice as wealthy as Norway, which is so vastly against expectations that I wonder if the definition is useful). I can reasonably well estimate the value of my own assets (except for the value of my education/skills, which is harder to quantify). Is there any metric that is used to estimate the value of all assets in a nation: infrastructure, real estate, machines, goods, farmland, but also education, human capital, unmined natural resources, etc.?