Kamala Trump
Verified User
GDP is an irrelevant measure.
Compared to the entire EU.... which has about 450,000,000 people to our 300,000,000.
They are 50% larger in population and are ahead of us by a razor thin margin... (depends on whether it takes $1.55 to buy the Euro or $1.56 as to who is ahead).
So bottom line... yea EU!!!! your 27 countries with 50% more people just equaled the US.
http://www.mba.co.za/article.aspx?rootid=6&subdirectoryid=980
GDP cannot measure economic well-being and wealth
Money is the primary measure of well-being and wealth in conventional economies. “With GDP accounting based on monetary measures it means that “money” is regarded as the yardstick for social well-being and economic welfare, says chief investment officer at Cannon Asset Managers and GIBS senior lecturer Prof. Adrian Saville.
According to the United Nations Human Development Index (HDI), GDP growth does not necessarily increase the sense of well-being. Therefore, we cannot assume that just because we are spending more money life conditions are improving.
Originally designed to guide production planning during World War II, GDP was never intended to be a measure of progress or well-being. Even so, politicians, policy makers, the financial community and journalists often use GDP for this purpose.
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GDP is the primary indicator or measure of economic production within a country (growth and development).
GDP is the total value of all of the goods and services made and purchased within one year. In other words, it is the sum of all the money spent by individuals and households, government and businesses, annually.
As a benchmark, growth in GDP of 2% per annum is considered slow, while a 4% annual growth rate is considered good.
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Against this backdrop, economists have criticised the use of GDP as a measure of economic progress and social welfare, for many decades, arguing that “A nation’s welfare can hardly be inferred from a measure of national income.”
Social health cannot be measured using economic indicators
Social indicators, like raising families, caring for the elderly, community work and art and culture, contribute to a sense of well-being. People who give socially often offer their services for free. But governments often resist using social indicators as a measure of well-being and wealth, because many fall outside the realm of direct influence and can therefore not be controlled, measured or counted.
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GDP does not measure:
health
infant mortality
morbidity
suicide rates
crime
poverty
environmental health, or decay and destruction of the natural environment
infrastructure, such as highways and bridges
family breakdown
loss of leisure time
cost of commuting to work
lack of civility in communities
lack of concern for future generations
income gaps (for instance between women and men or “poor” and “wealthy”)
GDP is the comparison figure you programming nerd, read econ 101.
LOL,
Did I call it or what?
Yep it is not a country but for currency/economic purposes it might as well be.
I really couldn't give a monkey's about position. However, i just thought i'd point out the number 1 position is held by the Eurozone countries (ie those members of the EU who have adopted the Euro) not the EU as a whole.
There aren't 27 Eurozone countries and therefore their populations approximate to around 320 million.
assclownsecondrateprogrammer. Your stupider than I thought. GDP has zero to do with social wellbeing. you tool it's 100% economic not social you mental midget.
I really couldn't give a monkey's about position. However, i just thought i'd point out the number 1 position is held by the Eurozone countries (ie those members of the EU who have adopted the Euro) not the EU as a whole.
There aren't 27 Eurozone countries and therefore their populations approximate to around 320 million.
Thanks... was not aware of that.... but you still have 20 million more people.... so nana nana na na....
Well tin pot money is better than the piss pot dollar it appears Charver.
Do yourselves a favour and adopt the Pound.
Think of it as something of a homecoming.
I'll thank you not to include me in that shower of Euro weirdos.
I use Sterling, thank you very much, not that tin-pot Euro money.
Do yourselves a favour and adopt the Pound.
Think of it as something of a homecoming.
My apologies.... no offense was intended .... please forgive the error, though in fairness, your avatar does remind me of a French Footballer.