Quotes About GDP

over the past couple of centuries, just as Rostow spelled out, capitalist economies have restructured their laws, institutions, policies and values so that they are geared to expect, demand and depend upon continual GDP growth.

By agnostic, I do not mean simply not caring whether GDP growth is coming or not, nor do I mean refusing to measure whether it is happening or not. I mean agnostic in the sense of designing an economy that promotes human prosperity whether GDP is going up, down, or holding steady.

Given that 80 percent of the world's population live in such countries, and the vast majority of their inhabitants are under 25 years old, significant GDP growth is very much needed, and it is very likely coming.

Meanwhile the sluggish GDP growth of recent decades in many high-income countries has infamously been accompanied by widening income inequalities. At the same time, all of these countries' global ecological footprints already far exceed Earth's capacity:

Meanwhile the sluggish GDP growth of recent decades in many high-income countries has infamously been accompanied by widening income inequalities. At the same time, all of these countries' global ecological footprints already far exceed Earth's capacity: it would take four planets for everyone in the world to live as they do in Sweden, Canada and the United States, and five planets for all to live like an Australian or Kuwaiti.

growth is on the way, argue technology optimists such as Erik Brynjolfsson and Andrew McAfee: thanks to the exponential growth in digital processing power, we are entering the 'second machine age' in which the fast-rising productivity of robots will drive a new wave of GDP growth.

It's important to note, however, that the decoupling required would not be a one-off phase: if GDP were to keep on growing, then the rate of decoupling would have to more than keep pace with it, year on year on year.

First, change the goal. For over 70 years, economics has been fixated on GDP, or national output, as its primary measure of progress. That fixation has been used to justify extreme inequalities of income and wealth coupled with unprecedented destruction of the living world. For the twenty-first century, a far bigger goal is needed: meeting the human rights of every person within the means of our life-giving planet.

Kenya has been a trailblazer in mobile banking since launching its M-PESA mobile money service in 2007. Within six years, three quarters of all Kenyan adults had used the service, including 70 percent of those in rural areas, and—astonishingly—over 40 percent of Kenya's GDP was passing through M-PESA.

the last decades of the twentieth century, the focus shifted from measuring GNP to today's more familiar GDP, the income generated within a nation's borders.

If there is one task that merits the attention of the twenty-first-century economist, it is this: to come up with economic designs that would enable nations coming towards the end of their GDP growth to learn to thrive without it.

if Rostow were indeed a fellow passenger on this flight, I think he would realise upon landing that an airplane is not actually the best metaphor to describe GDP's future journey: it lacks the agility needed to lift up, touch down, lift up, touch down in response to ever-changing conditions.

The search for gain—which drives shareholder returns, speculative trading and interest-bearing loans—lodges dependency upon continual GDP growth deep within the financial system.

I'm sure Mark Carney is a very clever young man, but I think that the government would be mad to move from inflation targeting to money GDP targeting.

It is this obsession with GDP and FDI growth and a facile belief that this growth in the GDP would trickle down to the poor as well, that has led to the neglect of the genuine concerns of the poor in the country.

It is argued by our GDP obsessed policy planners that eventually the money being made by the stock market operators or the IT industry would trickle down to the poor farmers in terms of ancillary jobs that would be created. But the fact is, that this has not happened, despite the boom in the stock market and the IT industry.

Rather than engineering our economies solely to maximise GDP, Africa's business and political leaders must build economies explicitly designed to end poverty and inequality.

we have an economic system that fetishizes GDP growth above all else, regardless of the human or ecological consequences, while failing to place value on those things that most of us cherish above all—a decent standard of living, a measure of future security, and our relationships with one another.

We are the only species on the planet without full employment. Brilliant. We have an economy that tells us that it is cheaper to destroy Earth in real time than to renew, restore, and sustain it. You can print money to bail out a bank, but you can't print life to bail out a planet. At present we are stealing the future, selling it in the present, and calling it "gross domestic product.

The United States has little reason to build an empire for economic and trade purposes. It exports only 13 percent of its GDP to the world, compared with Germany, which exports almost 50 percent, or China's exports in excess of 20 percent of GDP.

Coming to the growth potential in financial services, there is enough data to show that, usually, financial services grow about twice or two and a half times of what the economy, the GDP growth rates.

Economics was like psychology, a pseudoscience trying to hide that fact with intense theoretical hyperelaboration. And gross domestic product was one of those unfortunate measurement concepts, like inches or the British thermal unit, that ought to have been retired long before.

Oil-futures trading has risen by a factor of one hundred in some three decades, from 10 percent of oil output in 1984 to ten times oil output in 2015. Derivatives on real estate are now nine times global GDP. That's not capitalism, that's hypertrophy of finance.

And that year Australians officially became the richest people in the world, overtaking the British and the Dutch on the measure of GDP per person.