Rockin' in the Free World
Media Type: Music Topic: Income & Poverty, Jobs & Unemployment
- Dig This?
Like it? Share it!
Economists use GDP to measure the total production in an economy. Sometimes GDP is used as a measure of well-being. However, as Neil Young points out, GDP is not a perfect measure of well being. For example, it is not adjusted for inequality (the homeless man), crime (a kinder, gentler, machine gun hand), and pollution (Styrofoam boxes for the ozone layer). What other factors affect our well being but are not calculated in GDP? If we included these other factors that affect our well being, does GDP over estimate or underestimate our well being?
Available on iTunes Available on Amazon.com
- Your Thoughts
- Was this helpful to you? (1 votes)
- Related Content