ipl-logo

The Pros And Cons Of GDP Development

1168 Words5 Pages

Introduction

The accompanying paper analyzes the contentions and the key thoughts expressed in an article by Robert Costanza and Ida Costanza ' time to leave the GDP behind ‘.283-285 [ 2014]. It will further center around the issues with numerous nations with generally high GDP development yet poor societal condition India being in the spotlight being a perfect example. This raises attention the global concern that Is GDP growth the most important thing for the countries? or is there any life beyond GDP?

GDP is a misleading measure of national achievement. Nations should now act to embrace new metrics urges Robert Costanza (Costanza and Costanza 2014). Robert F Kennedy once mentioned that GDP measures everything except that which makes life …show more content…

The politician and the leaders of the country have a task now to let go of their greed for unconditional growth and take a step back to look at the people they represent. The Indian democracy needs improvements to align country’s direction with interests of the people. Media can play a key role in this if they shift their eye from fancy scandals to the harsh reality of poverty, corruption and the need for progress. More and more alternatives should be introduced by the government to GDP like HDI, WVS (World value surveys) and GPI Genuine progress indicator).to unlock the great underlying potential of India, social progress had to be made. The challenge is to combine the economics of growth with the economics of equality and social justice.in coming years the United Nation’s Sustainable Development Goals(SDG) should replace Millennium Development Goals as SDG can expand to include comprehensive measures of sustainable well beings. The world should realize that the real pride is not in the country’s monetary development but in the happiness and the satisfaction level of the people. National statistical systems need to widen their approach because THERE’S MORE TO LIFE THAN JUST

Show More
Related
763 Words | 4 Pages

GDP also can affect people who invest their money. For example the can decide what companies their money can go into, or if people are investing in different countries decide what country has the healthiest economy so they can relocate their money there. GDP affects our society because based on result policy makers decide what needs to get done to bring back the economy to health, perhaps inflation occurred or there was a recession. These numbers affect

Read More
1393 Words | 6 Pages

The rule of the British Empire in the Indian subcontinent between 1858 and 1947 greatly affected the net economic status of India. Trade was the sole reason for the British East India company arrival in India, for the Industrial Revolution in Britain led to the increase in demand for raw materials in factories and India served as an efficient platform. However, as their influence started expanding, they created new policies and began to colonize India not only economically, but also socially and politically. Historians continue to debate whether the long-term impact of British rule in India was accelerating the economy or declining it. That being said, my paper is going to be assessing the positive and negative impacts on the Indian economy

Read More
799 Words | 4 Pages

I choose to defend the prompt of my choice in more detail. In the 1870's, as the Civil War receded into memory, the United States became a leading Industrial power. Advances in technology and new access to the immense resources of the North American continent drove American Industrialization. This industrialization brought the growth of new American cities such as Chicago, and the arrival of a flood of immigrants from all over Europe to man the factories. During the Gilded Age, businessmen reaped enormous profits from this new economy.

Read More
1031 Words | 5 Pages

The GDP is manly used to measure the greatness of the economy. It tells the total dollar value of all goods and services produced over a specific time period. GDP is calculated by either the income approach or by the expenditure method. The income approach is calculated by adding up the total compensation to employees, gross profits for firms, and taxes, less any grant.

Read More
847 Words | 4 Pages

Between 1800 and 1900, the United States experienced great economic growth. Two factors that contributed to this growth were government policies and technological developments. America at the time was experiencing cultural and industrial revolutions at a rate that most other new nations, even today, could ever dream of. Government policies and technological developments had a huge influence on the American economy and shaped its character to an extent that defined for the future magnitude of success that it would see throughout the century. Policies such as the National Road and the tariff tax, and technological developments such as the cotton gin and the production of railroads, all contributed to the economic growth of the United States.

Read More
681 Words | 3 Pages

When personally recording data by asking participants certain questions-a lot of the populous of my research agreed with this statement. " Of course a society will fail with a bad economy. An economy is the base of a society. "4 an economy surely is not the only element that makes up a succeeding empire-but it is the basis in which the population of that empire is directly affected. If the new presidential winner is able to overlook the

Read More
862 Words | 4 Pages

Jacob Denvy was a 27 year old, who had no future and no life ahead of him. His life up to this point had consisted of nothing more than him looking at a computer screen, Lying down on his couch and eating food (With the occasional game from some unreleased console, and a series no one had heard of). His life was simple and boring, and he was sick of it! He reached forward and held down the off button for five long seconds, the screen faded to black.

Read More
698 Words | 3 Pages

There are many things to discover through science. One of the most interesting discoveries in science is the so called stem cell therapy. So what is a stem cell therapy and what is a stem cell? First, stem cell therapy or stem cell research is an emerging field in science and medicine wherein stem cells are used in replacing damaged cells and cure diseases involving the regeneration of cells. Due to the cell’s regenerative properties, it can treat diseases like diabetes, heart disease and blindness.

Read More
1863 Words | 8 Pages

Income inequality had an enormous impact on the United States’ history with the Great Depression that occurred in 1929. The principal impact of income inequality is surely the poverty rate that increases in the United States because a lot of the income goes to the richest population. As explain in this paper there are a variety of different technics to calculate the inequality within a country, some methods are more reliable than others. The most commonly used method is the Gini coefficient, which can help to compare the level on inequality between countries. In order to reduce the inequality in the country, the government try to found some solutions.

Read More
641 Words | 3 Pages

Deficit Spending Norman Harris American Military University 29 January 2017 Deficit Spending Deficit spending is based off the Keynesian ideology of macroeconomics which, in part, believes the government can be used to stimulate the economy. Deficit spending occurs when a government spends more money than what it takes in over a fiscal period, creating or increasing a government debt balance. Government deficits gets it money through the sale of public securities; an example of public securities are government bonds (Roots, nd). Deficit spending is an intentionally calculated plan included in the yearly fiscal budget of the President and Congress to help stimulate the economy (Amadeo, 2016).

Read More
1825 Words | 8 Pages

INTRODUCTION An economic system is defined by the various processes of organizing and motivating labour, producing, distributing, and circulating of the resultant of human labour, such as merchandise and services, consumer durables , machines, tools, and other technology used as intake for hereafter production, and the infrastructure within and through which production, apportionment , and circulation occurs. These arrangements are intended by the political, cultural, and environmental conditions which they co-exist together (Gemma; 2014). In a command economic system or planned economy, the federal government controls the economy by deciding how the state would use and distribute resources. The government also regulates prices and wages

Read More
1195 Words | 5 Pages

1) Government may intervene in a market in order to try and restore economic efficiency. One of the ways the government intervention can help overcome market failure is through the introduction of a price floors and price ceilings. If prices are seen to be too high, price ceiling or a maximum price could be imposed on a market in order to moderate the price of the product. This policy is often used when there are concerns that consumers cannot afford an essential product, such as groceries. The effect of a maximum price could create a shortage as it could lead to demand exceeding supply for that particular good.

Read More
1237 Words | 5 Pages

Health statistics are important for knowing the health status of the whole population and its various segments and groups, as well as the trend in health status, the provision and distribution of healthcare services, and the impact of the provided services and programs. he success or failure of healthcare programs cannot be veriied without properly collected and interpreted health statistics. Proper allocation of resources also depends on health statistics. Researchers, presenters, and health care workers and students always need health statistics. However, it is not uncommon to ind a local article or presentation, which reports health statistics from all over the world, but fail to report local statistics from the Kingdom of Saudi Arabia (KSA).

Read More
1571 Words | 7 Pages

INTRODUCTION Economic growth is defined as the increased capacity of an economy to be able to produce goods and services in comparison from one period of time to another. This is figured by the genuine Gross Domestic Product (GDP) and development, and is measured by utilizing genuine terms such as “Balanced Inflation”. These terms help to remove any distorted views on the perceived outcome of inflation on the cost of merchandises produced. Likewise, Economic growth is related to the high expectations in a person’s standard of living. If the standards are high, it wouldn’t be beneficial for the economy as the working class individuals will face a lot of trouble.

Read More
1597 Words | 7 Pages

Economic growth and economic development In measuring and identifying the factors that stimulate the growth of the economy of a nation such as the Republic of India, a distinction needs to be made between economic growth and economic development. For a nation to experience economic growth, there must be an increase in the gross domestic product (GDP), which is a qualitative measure of the value of all finished goods and services produced in that country within a period of time. However, economic development which is usually measured through the human development index (HDI), includes not only an increase in the output of goods and services, but an improvement in the welfare of individuals within a country.

Read More

More about The Pros And Cons Of GDP Development

Related Topics

Open Document