Documents gross domestic product 148 results

"As a measure of economic activity, gross domestic product (GDP) is a useful indicator of output and suitable for using in estimates of productivity. However, as a measure of welfare, it has several limitations. This article follows Sefton and Weale (1996, 2005) in producing an estimate of real income ? a corrected or adjusted version of GDP ? that is linked to current and future consumption possibilities. This measure of real income differs from real (money) GDP by taking account of capital consumption, net income and transfers from overseas, and uses a consumption deflator rather than a general GDP deflator so that output is valued in terms of consumption units."

"In this paper, we take a political economy perspective on barriers that inhibit a transition beyond the growth-paradigm – that is, we frame transition barriers as looming conflicts of interest. Specifically, we investigate potential transition barriers within three case studies. First, unemployment represents the most commonly cited reason why economic growth is considered indispensable. Second, alternative indicators to Gross Domestic Product (GDP) have not succeeded in replacing GDP as a standard metric of economic welfare. Third, pension schemes rely on economic growth to offset demographic change. In each of these three examples, we identify actor-interest constellations that foster the status quo of a growth economy. We conclude that compensating some of those actors who would presumably be worse off in a post-growth economy may be necessary – though not sufficient – for a transition."

"How did Gross domestic product (GDP) become the world's most influential indicator? Why does it still remain the primary measure of societal progress despite being widely criticised for not considering well-being or sustainability? Why have the many beyond-GDP alternatives not managed to effectively challenge GDP's dominance? The success of GDP and the failure of beyond-GDP lies in their underlying communities. The macro-economic community emerged in the aftermath of the Great Depression and WWII. This community formalised their 'language' in the System of National Accounts (SNA) which provided the global terminology with which to communicate. On the other hand, beyond-GDP is a heterogeneous community which speaks in many dialects, accents and languages. Unless this changes, the 'beyond-GDP cottage industry' will never beat the 'GDP-multinational'. This book proposes a new roadmap to 2030, detailing how to create a multidisciplinary Wellbeing and Sustainability Science (WSS) with a common language, the System of Global and National Accounts (SGNA)."