Quotes About GDP

The problem with gross domestic product is the gross bit. There are no deductions involved: all economic activity is accounted as if it were of positive value. Social harm is added to, not subtracted from, social good. A train crash which generates £1bn worth of track repairs, medical bills and funeral costs is deemed by this measure as beneficial as an uninterrupted service which generates £1bn in ticket sales.

Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0 percent balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.

Government is taking 40 percent of the GDP. And that's at the state, local and federal level. President Obama has taken government spending at the federal level from 20 percent to 25 percent. Look, at some point, you cease being a free economy, and you become a government economy. And we've got to stop that.

In a clean break from the Obama years, and frankly from the years before this president, we will keep federal spending at 20 percent of GDP, or less. That is enough. The choice is whether to put hard limits on economic growth, or hard limits on the size of government, and we choose to limit government.

After almost 50 years in which federal spending averaged about 20 percent of GDP, Joe Sestak and Nancy Pelosi took federal spending to 25 percent. You know, that's a 25 percent increase in the size of the government overnight. That's what we - that's what we've got to rein in.

Today, banking assets (that is, loans) in the world's major economies are equivalent to around 150 per cent of those countries' combined GDP.

of schooling) with the gross national income per capita—but (not surprisingly) it correlates highly with the average per capita GDP, making the latter variable about as good a measure of the quality of life as the more elaborate index.

Romania was the greatest exception with GDP up strongly by about 55% but with the country's material consumption expanding 2.5 times during the decade, a clear case of rising inefficiency of material use and increasing dependence of economic growth on higher material inputs.

Stock market fall is fake because of greed of companies promoters. Reasons like GDP data. Inflation, Fed figures American stock market fall, slowdown, recession , Repo rate are all fabricated drama to loot public invested money

the traditionally used ratios of deficit to GDP and total debt to GDP, as computed using the official numbers, grossly overstate how much more debt China can incur to jump-start its economy.

The American Society of Civil Engineers estimates that the United States would have to spend $3.6 trillion more than currently budgeted just to bring our infrastructure up to acceptable levels by 2020.95 China and India are spending almost 10 percent of GDP on infrastructure; Europe, around 5 percent.96 Even Mexico spends just over 3 percent.97 The United States has not broken 3 percent once since the mid-1970s.98

It takes about two and a half percent growth just to keep unemployment stable.

In macroeconomic theory, there is this argument that what the Fed does has no effect on unemployment, no effect on investment, no effect on the rate of GDP growth.

Byron Wien, for decades one of the most influential voices on Wall Street, taught Israel how to understand macroeconomic questions like the difference between gross national product and gross domestic product. The government had switched the leading economic indicator from GNP to GDP, Wien explained to Israel, as a way to make it seem that the economy was growing faster—official sleight of hand understood by very few.

If we focus our economy on improving human outcomes instead of just a topline GDP that is increasingly going to fewer and fewer people, we can see what Americans can do when they're free to unleash their true potential.

Housing has led our nation's economic expansion over the past few years, accounting for 16 percent of our Gross Domestic Product. New housing starts and home sales hit record levels from 2003 through 2005.

Without productivity gains, any growth in GDP is exactly offset by population growth, and the average income stays the same.

R&D has been an obsession in Europe for many, many years. There is this magical number which many governments aspire to do, and that is to invest at least three percent of GDP in research and development. When you look at the number, it's a composite of private and public investment in R&D.

I could end the deficit in five minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.

I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.

How much does it cost to treat leprosy? One $3 dose of antibiotic will cure a mild case; a $20 regimen of three antibiotics will cure a more severe case. The World Health Organization even provides the drugs free, but India's health care infrastructure is not good enough to identify the afflicted and get them the medicine they need. So, more than 100,000 people in India are horribly disfigured by a disease that costs $3 to cure. That is what it means to have a per capita GDP of $2,900.

And it was back in the mid-1980s, and as I point out in a piece, that was when we are spending about eight percent of our gross domestic product on health care. And even then, we had the impression that so much of the excessive, aggressive medical treatment that took place at the end of life was not only unnecessary but it was cruel.

GDP excludes care work and other unpaid work, most of which falls to women and girls in rich and in poor countries alike.

The Obama administration's attempted short-term fixes, even with unprecedented monetary easing by the Federal Reserve, produced average GDP growth of just 2.2% over the past three years, and the consensus outlook appears no better for the year ahead.