Artikel
Gross domestic product: Are other measures needed?
Gross domestic product (GDP) is the key indicator of the health of an economy and can be easily compared across countries. But it has limitations. GDP tells what is going on today, but does not inform about sustainability of growth. The majority of time is spent in home production, yet the value of this time is not included in GDP. GDP does not measure happiness, so residents can be dissatisfied even when GDP is rising. In addition, GDP does not consider environmental factors, reflect what individuals do outside paid employment, or even measure the current or future potential human capital of a country. Hence, complementary measures may help to show a more comprehensive picture of an economy.
- Sprache
-
Englisch
- Erschienen in
-
Journal: IZA World of Labor ; ISSN: 2054-9571 ; Year: 2022 ; Bonn: Institute of Labor Economics (IZA)
- Klassifikation
-
Wirtschaft
- Thema
-
GDP
macroeconomic measures
national income accounting
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Fraumeni, Barbara M.
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute of Labor Economics (IZA)
- (wo)
-
Bonn
- (wann)
-
2022
- DOI
-
doi:10.15185/izawol.368.v2
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:23 MESZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Fraumeni, Barbara M.
- Institute of Labor Economics (IZA)
Entstanden
- 2022
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