3 ms·
GDP isn’t a good measure for population’s wealth or quality of life especially for developed economies either. The GDP wa invented by a russian working for US
by jhoechtl 3y ago
GDP isn’t a good measure for population’s wealth or quality of life especially for developed economies either.
The GDP wa invented by a russian working for US bureau of statistics during the great depression. It was a helpful measure to compare performance of different US evonomic sectors. It favors deficit spending to saving.
It is a very inadequate measure for people wealth in any developed economy.