Tags: gdp

Why Our Happiness and Satisfaction should Replace GDP in Policy Making

October 28th, 2014
in Op Ed

Since 1990, GDP per person in China has doubled and then redoubled. With average incomes multiplying fourfold in little more than two decades, one might expect many of the Chinese people to be dancing in the streets. Yet, when asked about their satisfaction with life, they are, if more »

Japan's Central Bank is Out of Control and Must Be Tamed

August 23rd, 2014
in Op Ed

In the second quarter of this year Japan recorded its largest GDP contraction since the earthquake and tsunami hit in 2011. This time, the single most important reason for the downturn is technical: demand surged in the first quarter (and the one before that) as consumers more »

What's Wrong with Extreme Inequality?

June 15th, 2014
in Op Ed

It is common practice to use a single figure - gross domestic product (GDP) - as the definitive measure of progress. Relative standings of countries are assessed by comparing their GDP growth rates or their GDPs per capita. more »

Escape from the 14-Year Recession

June 13th, 2014
in Op Ed

When you ponder the implications of allowing a small group of powerful wealthy unaccountable men to control the currency of a nation over the last one hundred years, you understand why our public education system sucks. more »

Consumption Does Not Drive the Macroeconomy

April 29th, 2014
in Op Ed

Mark Skousen, through his Economic Logic and The Structure of Production, has been leading the fight for years for a measurement of economic activity that more closely aligns with a capital structure based macroeconomics. GDP is truly a Keynesian-based view of the economy; more »

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