Is GDP everything ?

[jeypore]

You can't do everything with money but you can't do anything without it. That is my take on GDP.

So, how are you going to solve this great paradox!!!!!!!!!!!!!!!!!!!!!!

I guess Communism is the future........... That is why an free economy is buying to keep your future communism alive........

Thanks...

 

[Chinese-Dragon]

I guess Communism is the future...........

I don't agree.

I think a "mixed economy" is the future, like China's current economic system.

We call it a Socialist Market Economy.

 

[jeypore]

I don't agree.

I think a "mixed economy" is the future, like China's current economic system.

We call it a Socialist Market Economy.

Funny you say this because Indian model started in similar situations, but the late 80's changed the whole situation with Manmohan Sigh (finance minister) stating " India is bankrupt today."

I wish the best luck in these ideals.........

 

[AZADPAKISTAN2009]

There is a question that has been lingering in my mind for a very very long time.

and it is infact a complex question.Well here goes

Everybody i have known measures the power of nations in GDP. The debates on tv, on this forum, listening to economic experts all i can hear is GDP,GDP,GDP.

The question is GDP everything ? is it more important than say justice,human happiness. does a high GDP means justice for everyone, does high GDP means that ppl are happy.

Ofcourse u need something to measure quantitatively for that GDP is fine. But why base strength of nations on it instead of things like free justice for all,human rights,the value of human life.

I mean to say why don't ppl give importance to this stuff instead of just saying GDP,GDP. If one gives more importance to these things then don't u think that GDP will automatically increase as a side effect.

Share ur thoughts on this issue.

GDP is wonderful too as you can then determine how much a family can possibly spend , and it also tells you health of economy
You cannot get high GDP if you have a corrupt tax evasion system , and mentality

 

[Raja.Pakistani]

The answer to this question is Yes....
You just need to divided the total GDP with the total population (of the country) and you get per capita (where the happiness lies)............ the more per capita the more happiness.................

Thanks

I am sorry but it don't work like this. You have few individuals in India who are billionaire while still there are plenty of peoples there who are living below poverty line without any roof over their head . They dont get any share from the wealth of billionaire..so if they cannot feed themselves then they dont have any benefit of higher GDP..

secoondly these are top 5 countries with higher GDP per capita

1 Qatar
2 Luxembourg
3 Singapore
4 Norway
5 Brunei

Can we say that living standard of peoples living in these countries is better than those who live in Sweden, Denmark or USA..what about happiness ? I dont think happiness has anything to do with GDP

 

[jeypore]

Can we say that living standard of peoples living in these countries is better than those who live in Sweden, Denmark or USA..what about happiness ? I dont think happiness has anything to do with GDP

So you are stating that people living in these countries are not happy!!!!!!!!!! Is that what you are saying???

Now I want you to compare with the 5 countries you have listed with Afgainstan, Iran, Pakistan, Vietnam, and Ethopia......

 

[FriendOfPakistan]

Definition says
"Gross domestic product (GDP) refers to the market value of all final goods and services produced within a country in a given period. "

Now, certain countries that trade a lot, but do not produce much, nor possess any significant scientific or technological base can have a high GDP. It may be a relative reflection of prosperity and of the existence of a large (albeit possibly parasitic) middle class. Saudi Arabia and UAE come to mind ... but there are other examples. It is basically a capitalist measure. Socialist countries of old days may have had low GDP, but the Soviet Union was a formidable challenge scientifically and technologically, and by no means backward.

Similarly, comparing countries like Iran and Saudi Arabia ... well, even GDP wise they might be comparable ... but it is clear that Saudi Arabia has almost no capability of its own. Turkey is in between, they have strong capabilities and a high GDP (relatively), but theyare highly dependent and have a huge current deficit account.

 

[Raja.Pakistani]

So you are stating that people living in these countries are not happy!!!!!!!!!! Is that what you are saying???

Now I want you to compare with the 5 countries you have listed with Afgainstan, Iran, Pakistan, Vietnam, and Ethopia......

First of all i dont get it why you link happiness with GDP. happiness is a state of mind . you could be poor and happy guy and you could be sad even after having plenty of money...

Secondly you did not get my point qatar has double gdp per capita as compare to usa, canada, denmark but that dont mean living standrad of peoples in qatar is better than those who live in canada. Again pakistan might have less gdp as compare to india but it still has less peoples in blow poverty line than india ..even doctor to patient ratio of pakistan is better than india ..so those poor peoples who live in india it dont matter to them if they live in india ior ethopia as higher gdp dont change their lives by giving them basic needs which is shelter, better food and medical

 

[Pioneerfirst]

GDP has great importance,it may not be as related as you say but it is indirectly related to Justice,happiness etc.
For giving justice you need to pay the judges,build new courts and most important well trained and paid law enforcing agencies but how can you do all that without money?Govt get funds from tax and you can not collect tax until there is some economic activity.

Similarly how people can be happy without employment or social security,these all thing come from money.
Take example the countries with lower GDP/individual can not give there nation justice and happiness as higher can give.

 

[IND151]

GDP is not everything, but a larger GDP is still better than a smaller GDP.

right

if a nation has to rise as global power it must have enormous economic weight

 

[Big Boss]

As India's GDP is growing day by day and India have become 9th largest economy this question about "Is GDP is everything?" Is what i was expecting.


I think following offer a different viewpoint:

In 1972, Bhutan's newly crowned leader pronounced a new measure of prosperity rather than the G.D.P.: Gross National Happiness. But how do you measure something so abstract? Jonathan Harris had the idea to do it with balloons.

Measuring Bhutan's Gross National Happiness ... With Balloons : The Picture Show : NPR

 

[Last Hope]

A HIGH GDP is important for more finance of governmental departments.

But let me ask you one question.
Do you seriously think that normal public or even governmental departments in Pakistan benefit from high GDP?


We know the answer. No. From high to low, everyone takes some amount into their pockets.

 

[Jade]

If talking about power projection and international weight & influence, the total GDP is the most important measure
If talking about living standards, GDP per Capita is a good measure.
If talking about happiness, Gross National Happiness(GNN) could be a good measure, but unsure how it is measured objectively

 

[Storm Force]

The REASON we hear about GDP GDP GDP it is the single biggest indicator of a nations WEALTH...

let me clear a FEW MISCONCEPTIONS.

The GDP is nothing to with billionaires (that is personal wealth)

GDP does help the common man. IT PROVIDES money for schools,, education,, hospitals,, roads electrcity, energy and air [ports ships planes NEW ROADS new METRO and NEW shopping centres.

GDP pushes people into MIDDLE CLASSES so they but MORE things SO GDP grows even faster.

GDP is a GOOD MEASURE of how successful or how failed A STATE you are...

" IT ALSO PRIOVIDES MASSIVE MILITARY MUSCLE"

" massive political clout"

YOU ARE RESPECTED by the other nations

eg We all respect USA ,,, WE admire China,, We all talk about the BRICS nations ..... WHY because of GDP .....

who are the strongest ?????????

in case you didnt know

 

[Pioneerfirst]

there are two types of GDP
1.Nominal GDP
2.perchasing Power Parity GDP

I personally think GDP(PPP) is more important for common people than nominal and similarly nominal is more importaant when it comes to governance.

Pakistan's GDP Nominal = 202 billion $(46th in world) and
PPP = 491 bn $ (26th in world)