GDP and output
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UK GDP and the circular flow

UK GDP and the circular flow | GDP and output | Scoop.it
Data released by the ONS on Friday give students a great illustration of the operation of the circular flow model. GDP growth, the speed at which output of goods and services in the UK grows year on...
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Economic Review, July 2014 - ONS

Economic Review, July 2014 - ONS | GDP and output | Scoop.it
“GDP just 0.6% below Q1 2008 peak in Q1 2014, but the recovery in GDP per head has been slower http://t.co/riU82wEG5u http://t.co/JrPfNK10hw”;
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Britain's shaky growth is papering over cracks - Telegraph

Britain's shaky growth is papering over cracks - Telegraph | GDP and output | Scoop.it
The economy is growing but only a fool would argue this recovery is secure
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This from the DT adds a perspective to the 2013 year end figures.
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Top Ten Richest Countries of the World by GDP (PPP) .mp4

“This is the List of Top Ten Economies based On Gross Domestic Product (GDP) Purchasing Power Parity(PPP). Gross domestic product (GDP) is the market value of...”
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Michael Porter: "Better measuring a country: GDP is not the best way to quantify national success"

Michael Porter: "Better measuring a country: GDP is not the best way to quantify national success" | GDP and output | Scoop.it
Eighty years ago, the first holistic measure of a country’s national income – what would later become Gross Domestic Product – was introduced. Developed by economist Simon Kuznets in a report commissioned by Congress to measure economic activity during the Great Depression, GDP quickly became the defining measure of national progress. GDP growth is how we tell whether a country is improving, and GDP per capita has become the definitive measure of the standard of living. For several decades, however, a growing number of economists have begun to question whether GDP is sufficient to measure national success. Notably, in the aftermath of the financial crisis of 2008, economists Joseph Stiglitz, Amartya Sen, and Jean-Paul Fitoussi released their report “Mismeasuring our Lives,’’ which argued: “If we have the wrong metrics, we will strive for the wrong things.” Kuznets himself made clear that GDP was only a limited economic lens through which to assess progress. “The welfare of a nation,” he wrote in 1934, “can scarcely be inferred from a measurement of national income.” Our standard of living reflects social, environmental and community assets, not just economic assets. Happiness and fulfilment rest on factors, such as health, access to knowledge, tolerant communities, and opportunities for personal achievement. GDP is not bad — it just measures what it measures, and what it measures is limited. The social malaise that resulted in the Arab Spring in many “prosperous” Arab countries is a sign that economic measures alone are inadequate measures of society’s success. The unrest and protests in Brazil, a country that has registered strong economic growth in recent years, tells us the same thing.
Roger Loxley's insight:
Av excellent assessment of the usefulness of GDP as a measure of economic well being.
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Economic Review, July 2014 - ONS

Economic Review, July 2014 - ONS | GDP and output | Scoop.it
“GDP just 0.6% below Q1 2008 peak in Q1 2014, but the recovery in GDP per head has been slower http://t.co/riU82wEG5u http://t.co/JrPfNK10hw”;
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Bank of England's Haldane says Level of Gdp Is more Important Than Rate of Growth for Rate Hike Decision

Bank of England's Haldane says Level of Gdp Is more Important Than Rate of Growth for Rate Hike Decision | GDP and output | Scoop.it
“Bank of England's Haldane says Level of Gdp Is more Important Than Rate of Growth for Rate Hike Decision: BAN... http://t.co/lzaez30AZZ”;
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UK GDP and the circular flow

UK GDP and the circular flow | GDP and output | Scoop.it
Data released by the ONS on Friday give students a great illustration of the operation of the circular flow model.
GDP growth, the speed at which output of goods and services in the UK grows year on...
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Growth in national income is a poor predictor of welfare - The Economist

Growth in national income is a poor predictor of welfare - The Economist | GDP and output | Scoop.it
“ Growth in national income is a poor predictor of welfare The Economist IF YOU look at countries' social and economic progress since 1990, you will find that, in most cases, it is in line with their historic performance—with some important exceptions.”
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GDP vs GNP - Difference and Comparison | Diffen

“ What's the difference between GDP and GNP? GDP (or Gross Domestic Product) and GNP (Gross National Product) both measure the size and strength of the economy but their definition, calculation and applications are different from each other.”
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Good for the difference between GDP and GNP, easily explained!
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Why Economic Growth Is Exponentially More Important Than Income Inequality - Auto Balla

Why Economic Growth Is Exponentially More Important Than Income Inequality - Auto Balla | GDP and output | Scoop.it
In 1900, we had no airplanes, no computers, no cellphones, no internet. We had only rudimentary versions of cars, trucks, telephones, even cameras. Read more at http://www.autoballa.com/2014/01/126053/why-economic-growth-exponentially-more-important-income-inequality#Y3qLbEPTC0Z4tkPs.99
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