Diane Coyle’s new book, GDP: A Brief But Affectionate History, is a timely contribution to discussions of modern economic performance. She argues that Gross Domestic Product increasingly ...
GDP can tell us how the economy is performing without telling us how Americans are faring.
Gross domestic product (GDP) has long been the main indicator of economic growth used almost everywhere in the world. However, the measurement does not take into account other factors essential to a ...
For years, measuring economic welfare has been pretty straightforward. Classic economics obsess over a single value: gross domestic product. Luckily, economic paradigms are shifting, and experts are ...
Economics and economic policy need a rethink. This is clear from the scale of inequality, joblessness, insecurity and environmental disasters we see in the world. People feel left behind, impoverished ...
“Measurement theory shows that strong assumptions are required for certain statistics to provide meaningful information about reality. Measurement theory encourages people to think about the meaning ...
More recently, the United Nations High-Level Expert Group on Beyond GDP argued that while GDP remains indispensable for measuring economic activity, it was never designed to capture the full range of ...
Syria’s example illustrates the challenges of gathering good economic data during conflict. Two destroyed tanks in front of a mosque in Azaz, north of Aleppo. Photo taken in August 2012 by Christiaan ...
It’s no secret that gross domestic product, the number that serves as a measure for economic progress around the world, is hardly a barometer of human flourishing. It registers the harvest of a forest ...
Real Private GDP has been remarkably consistent from July 2009 at 2.84% annual growth despite multiple major events over the period including wars, the panic of Peak Oil, the COVID lockdown etc. GDP ...
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