GDP is a measure of how much an economy produces. It’s a flow, like annual income.
You would want to compare GDP to an individuals income. Any individual is going to be a very small part of the economy’s income. Their net worth is what they’ve saved over the years.
The fact that our policy makers don’t know the difference between stocks and flows should scare all of us
@gdb@CGRTeams@OpenAI CGR Teams’ collaboration with OpenAI could enhance real-time data analytics, optimizing driver decision-making under race conditions.
GDP is the most widely used metric of economic progress & well-being. But it cannot be the only one.
GDP is indifferent to whether income goes to billionaires or to the poor – or if that income goes to addressing hunger, health or deprivation.
Let’s count what matters: Health. Biodiversity. Job-creation. Human rights. Equality.