go to
http://www.nytimes.com/2010/05/16/magazine/16GDP-t.html?scp=1&sq=the%20rise%20and%20fall%20of%20the%20gdp&st=cse
and read the article on GDP. For class, be prepared to discuss what GDP is, why it is or is not a good measure of growth and are you low or high GDP person? You need to post a comment about one of these issues.
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There is difficult to place a number on the degree of an individual's or a group of people's happiness. When deciding whether it is better to be a High GDP person or a Low GDP person, you could measure it in the housing, job opportunities, car driven, which grocery store one shops at, etc. But, it is extremely difficult to say which is happier and benefiting more from society, because both are benefiting differently. If the High GDP person has no time but to work or sleep and the Low GDP person is financially not well off but spends his/her weekend afternoons in the park with his/her family, which leads a more productive and happier life? It is nearly impossible to label happiness in the economic sense.
ReplyDeleteCody Brooks
GDP is an index of a country’s entire economic output. It shows the growth of businesses and it compresses the immensity of a national economy into a single data point. I support the State of the U.S.A and replacing GDP with a better system. GDP is not a good measure of growth because it is only one number and concentrates on economy growth and not political issues. State of the USA is a great substitute to evaluate national progress because it gives evidence-based conclusions to better the economy.
ReplyDelete-ben matthews
G.D.P. stands for gross domestic product. This is defined as "an index for a country's entire economic output." This includes a tally of things such as, farmers' harvests, retail sales, and manufactures' shipments. People claim that if the gross domestic product grows, the more the country is better off in the end.
ReplyDeleteThe Gross Domestic Product (GDP) is an index of a country’s entire economic output which affects global financial markets. The more GDP grows, the better the country and its citizens are doing.
ReplyDeleteIt is not a good measure of growth because the GDP number can be distorted by the profits of the top-earners and companies. While the data shows that some are doing fine, many in reality are not. According to Stiglitz, median household income has declined over the past decade while GDP per capita has gone up.
I have characteristics of both high GDP-man and low GDP-man. Of the low GDP-man, I don’t spend as much money and I am busy most of the time. Like the high GDP-man, I own a big house and like to visit restaurants.
One thing that should be considered in any measure of success is the environment and the depletion of natural resources.
GDP is an index of a country’s entire economic output. It stands for "Gross Domestic Product." Like the High GDP man, I spend quite a lot of money, I eat often at restaurants, my family does not grow many vegetables and we use a washer and dryer regularly.
ReplyDeleteLaura Stacy
Cristina Aliseda:
ReplyDeleteGDP is an index of a country's entire economic output.
GDP is an inaccurate measure of growth because it compresses an entire national economy into a single number. The GDP only focusses on economic growth, therefore, it is an inaccurate gauge of society as a whole.
I am a high GDP person.
GPD is an index of a country entire economic output. It is a measure of gross domestic products and can really show whether things seem to be getting better or getting worse. The GDP has failed to capture the well-being of a 21st century society and skewed global political objectives toward the single-minded pursuit of economic growth.It measures income, but not equality, it measures growth but not destruction and it ignores values like social cohesion and the environment. I am a high GDP person.
ReplyDeleteMary Ann
GDP calculates economic growth of a country into one number. It is said that the numbers are not always accurate and I believe that. There are many things that should be calculated into the equation but aren't. In the end of the article, it asks if educational attainment should be considered. I would think I somewhat account for a high GDP person.
ReplyDeleteGDP is the total market or dollar value. The number is not an exact measure of the growth of a country because it does not include all money making aspects. Although some of those are unrecordable, the number can not be completely accurate without them. GDP does not include work in homes, criminal activity, and underground economy. Social Security checks, are large sums of money for some people, so not taking those in consideration while determining GDP makes this process inefficient.
ReplyDeleteGDP is is an index of a country's entire economic output. I am a high GDP because I go out to eat at restaurants quite often, instead of staying home to eat. GDP is not a good measure of growth. It has something to do with growth, but it ignores such things like the environment.
ReplyDeleteGDP is the total economic growth of a country formed into 1 number. the number is in no way an exact total but an estimate on the total growth. I do not like GDP they should try to change with a better system that is more exact. GDP ignores far to many externalities like the government to be acceptable.
ReplyDeleteDerek Hunicke
ReplyDeleteGDP does not reflect the growth of a society as a whole because it can be distorted by the large gains of a few companies. The GDP for a country can go up, while the income and prosperity of the average home decreases significantly. GDP also does not include all the aspects of a given economy because it does not take into account government, undocumented gains, and people who work but do not get paid.