Articles on Gross Domestic Product

What is Gross Domestic Product (GDP) ?

Gross domestic product (GDP), this is a term which is familiar to pretty much anybody who has ever read any...

The Importance of GDP

In the previous article, we understood why the GDP number was created and what purpose is it supposed to serve....

Problem #1: GDP Disregards Debt

Debt was once an individual and social vice. Individuals and organizations in heavy debt were considered to be inefficient and...

GDP and the Perpetual Debt Trap

In the previous article, we read about how the GDP system encourages incessant and reckless borrowing on the part of...

Components of GDP

We have spoken in great detail about GDP. By now, we are aware of the dangers of setting GDP maximization...

GDP and Depleting Natural Resources

The GDP system’s absurdities do not end with social evils. Mindlessly following this system has also wrecked havoc on the...

GDP and Natural Disasters

GDP considers natural disasters like earthquakes, floods, tsunamis and hurricanes as being favorable to the economy. Add to this the...

GDP and Terrorism

In the past few articles, we have spoken about the absurdity of the GDP system. This absurdity has been brought...

GDP and the Dirty War Business

In the previous few articles we have seen how the GDP approach to calculating economic growth has led to the...

China’s Modern Day Ghost Cities

The GDP system has found several criticisms. However, none of the criticisms have been as apparent as an unusual phenomenon...

Green GDP

Green GDP In the search for a better system to account for our economy, researchers have looked at various options....

India vs. China: Is There Even a Comparison ?

The GDP growth rate of India overtook the GDP growth rate of China in 2015. This has fuelled many newspaper...

Universal Basic Income: An Idea Whose Time Has Come ?

Introduction: The History of Universal Basic Income (UBI) In recent months, there has been much discussion worldwide about a concept...

How Savings Affect the Economy?

Economics is divided on the role of savings. Many economists believe that saving is a personal virtue but social vice....

GDP and Healthcare

In the past article, we discussed how GDP views war and why it is dangerous for all of us since...

The Problems with the GDP System and Requirements from the New Metric

In the previous articles, we have discussed the various pitfalls of the GDP system. We have also made the case...

What is Trickle down Economics and How it Works and Doesn’t Work in the Real World

What is Trickle down Economics, Why it Became Popular, and How it Works in Practice In economic theory, the concept...

GDP: The Broken Window Fallacy

There is one fact about the GDP which is often misquoted in the media. I am sure all of us...

Social Evil #1: War and GDP

In the previous article, we learned about the concept of the broken window fallacy. We learned that in general, the...

Bhutan’s Gross Happiness Index

The fact that GDP is a broken system is well known. Many countries across the world have attempted to create...

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Articles on Gross Domestic Product