ReConsidering GDP
What can GDP really tell us about how we’re doing, overall?
Recently Erik saw an article in which nobel-winning economist Joseph Stiglitz says that an obsession with looking at GDP has become a problem:
“The world is facing three existential crises: a climate crisis, an inequality crisis and a crisis in democracy,” he writes. “Yet the accepted ways by which we measure economic performance give absolutely no hint that we might be facing a problem.”
“If we measure the wrong thing, we will do the wrong thing,”
Do we need to reconsider how useful GDP can be as a measure of economic health?
Show Notes
- Joseph Stiglitz, Measuring What Counts
- Human Development Index
- USA Gross Domestic Product per Capita
- Why GDP Fails as a Measure of Well Being
- Why GDP is not an accurate measure of economic growth
- The trouble with GDP
- Gross domestic product measurement limits
- GDP is not a measure of human well being
- The big mac index
- Gross National Income (PPP) per capita
- Gini coefficient
- List of countries by income equality
- List of countries by average wage
- Average global incomes
- Ireland is the wealthiest economy in Europe…or not
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