Quotes About GDP

It's the structure of feeling in our time; we can't think in anything but economic terms, our ethics must be quantified and rated for the effects that our actions have on GDP. This is said to be the only thing people can agree on. Although those who say this are often economists.

In Singapore, as befits that no-nonsense city state, they followed this line of thinking even further, and pegged ministerial salaries to the national GDP. When the Singaporean economy grows, ministers get a raise, as if that is what their job is all about.

Russia has a population of 150 million people and a GDP of $4 trillion. In both population and production it is dwarfed by the United States (325 million people and a $19 trillion GDP) and the European Union (500 million people and a $21 trillion GDP).6 Together, the United States and the European Union have five times more people than Russia, and ten times more dollars.

In 2018 cyber theft cost an estimated $600 billion globally. That's about as much as the global illicit drug trade.65 If cybercrime were a country, it would rank in the top twenty-five in terms of annual GDP.

If cybercrime were a country, it would rank in the top twenty-five in terms of annual GDP.

The welfare of a nation can scarcely be inferred from a measurement of national income as defined by the GDP.

G.D.P. is not a measure of how much value is produced for consumers. Everybody should recognize that G.D.P. is not a welfare metric.

I'm pleased that some economists and sociologists are beginning to talk about, for example, alternative measures of human well-being - alternative, that is, to GDP, on which the world runs.

China should cut heavy industries' share in gross domestic output by 9 percentage points between 2013 and 2030 to meet its pollution cuts target.

Our estimates suggest that a tax increase of 1 percent of GDP reduces output over the next three years by nearly 3 percent. The effect is highly significant.

It turns out from a number of more recent studies that reported happiness is strongly positively linked with the change or growth in GDP per capita from year to year.

GDP statistics and Keynesian macroeconomic policy were mutually reinforcing.

By 2060, India's economy is projected to be larger than China's because of its greater population growth. India is forecast to produce about one-quarter of world GDP from 2040 through the rest of this century.

As we shall see, GDP is a poor indicator of wellbeing, but it is limited even as a measure of income. It includes income generated in the United States that belongs to foreigners; it includes incomes in the form of undistributed corporate profits (which ultimately belong to shareholders) as well as surpluses run by federal, state, and local government.

Western Europe GDP per capita - not taking into account the new accession counties - was lower in 2001 relative to that of the US than any time since the 1960's.

In the last 5 years, American employers have lost over $150 billion of productivity to depression alone. That is more than the GDP of 28 different States during the same period.

Entitlements seem to grow with prosperity; not only because they are indexed to inflation or GDP, but also because a prosperous country tells itself it can afford more benefits.

The consequences of dependence on the horse in 1870 involved negative externalities unrecognized by GDP, including manure and urine distributed on the streets and the cost of the unlucky laborers assigned to clean up the tons of horse waste, not to mention the diversion of a substantial part of agricultural production to feed the ubiquitous horses, in 1870 numbering 8.6 million, or roughly one horse for every five people.

In the long run, pragmatism doesn't work. Focusing on the GDP alone is bad for the GDP. It does not profit a man to gain the world and lose his soul, and there is an additional sting when he then loses the world too. Whatever you worship in place of God is another thing you lose. Whatever you surrender gladly to Him is returned to you, pressed down, shaken, and running over.

Could a government dare to set out with happiness as its goal? Now that there are accepted scientific proofs, it would be easy to audit the progress of national happiness annually, just as we monitor money and GDP.

Governments don't get elected saying, 'We're going to lower GDP next year,' governments get elected on saying, 'We're going to increase prosperity and the happiness and the wealth of our nations.' But that kind of capitalism will only lead to the destruction of our planet.

Denmark's taxes add up to 45% of its GDP, whereas in the United States the figure is 24%. And Denmark doesn't just tax the rich. Like other European countries, Denmark collects a large part of its revenues from a national sales tax. Its sales tax rate is 25%, in line with the European Union's overall average of 20%.

Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP.

When gross public debt exceeds 90 percent of GDP, economic growth tends to decline considerably.