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It is interesting how western countries want to change the metric for economic progress when they are lagging on it. They wouldn't leave GDP as metric if all wa
by rajeshp1986 4y ago
It is interesting how western countries want to change the metric for economic progress when they are lagging on it. They wouldn't leave GDP as metric if all was well.
- systemvoltage 4y agoIt's similar to redefining what 'recession' means when things aren't going well.
- geysersam 4y agoThat may be so. Interesting observation. But GDP might still be a flawed measure, for the reasons mentioned in the article.
- abeppu 4y agoYou're saying western countries want metrics which show that they're doing well and GDP no longer fits the bill? My intuition is that the opposite is the case; people in countries which have high GDP per capita who still _feel_ that they're suffering want numbers that validate their problems as real and serious. Americans are on top from the GDP perspective, in the top 10 for GDP per capita, but it doesn't make them live longer or healthier, doesn't make them happy or less stressed, doesn't give them good schools or stability or fulfilling work or optimism about the future or confidence in institutions. I want the leading metric to show that things are _bad_ so politicians stop pretending that they're good at governing just because of the success of an economy they have little to do with.
- allemagne 4y agoWhatever attitudes there are in regards to GDP across a diverse set of societies is essentially a deliberate and sinister choice by someone. That much is obvious. However, the thrust of the article is actually pretty much the opposite, that Western/developed countries stubbornly want to keep the metric of GDP due to "vested interests".