1 / 11

Is GDP or GDP pc an appropriate macro measure?

Is GDP or GDP pc an appropriate macro measure?. The main economic indicator. GDP is the main economic indicator used by economists, analysts, politicians, etc. GDP increases when…. I buy a new bicycle I buy a beer BUT, it also increases when..

nubia
Télécharger la présentation

Is GDP or GDP pc an appropriate macro measure?

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Is GDP or GDP pc an appropriate macro measure?

  2. The main economic indicator • GDP is the main economic indicator used by economists, analysts, politicians, etc.

  3. GDP increases when… • I buy a new bicycle • I buy a beer BUT, it also increases when.. • there is an oil spill off the coast of Mexico or the U.S. • a rise in crime leads to more jails • wars break out increasing the production of weapons

  4. “Our main indicator of economic progress doesn’t distinguish between beneficial economic activity and dysfunctional economic activity” Dan O’Neill, Environmental & Ecological Economics, University of Leeds, U.K.

  5. Slowly, we are changing the way we measure progress • The Genuine Progress Indicator • Separates good stuff from bad stuff • Makes comparisons over time

  6. Completely different national counts • Measuring quality of life • Economics of happiness • Well-being • Life satisfaction

  7. Economics of happiness • The study of well-being and happiness • Theory and quantitative research • Factors affecting happiness

  8. Income effect • Some results: • Happiness plateaus at $40,000 • Absolute versus relative income

  9. Social relations effect • Happiness increases with social relations/social capital • Social relations and income paradox

  10. The Human Development Index • Income • Gross National Income per capita • Education • Average years of schooling (25 year olds) • Expected years of schooling (at age 5) • Life expectancy (at birth)

  11. Consider the ecological footprint • http://www.gfmag.com/tools/global-database/ne-data/11940-happiest-countries.html#axzz2PuCiFjqb

More Related