Hi everyone, can you give pros and cons between GDP and GPI as a measure of economic welfare?
2007-10-30 13:16:13 · 2 answers · asked by Anonymous in Social Science ➔ Economics
The advantage of GDP is that is a well defined objective measure, and although is does not have a one to one correspondence with economic welfare, people can add their own corrections depending on what they consider important. The GPI is complicated and represents a values judgments that are not universally agreed to and most people are not even sure what they are.
For the other side of the argument see
http://dieoff.org/page11.htm
Note: the GPI has it highest value in 1974 and I can assure you from personal experience that 1974 sucked. The winter of 73 74 was the periods of the gas lines which made everyone life miserable.
2007-10-30 13:43:59 · answer #1 · answered by meg 7 · 0⤊ 0⤋
Gdp Vs Gpi
2016-11-08 20:44:44 · answer #2 · answered by delaguila 4 · 0⤊ 0⤋