Before listening, watching and reading these sources of
information the only thing I knew about GDP was what it stood for; gross
domestic product. So it’s easy to say I learned a lot from these, but what I
found most interesting was how this number isn’t all-inclusive.
I understand that this number means a lot and according to
Simon Johnson it is a measure how the economy is doing. Additionally, the
podcast explains how this one number contains all good and services that US
produces. However, I think the omissions of the GDP are significant. I
specifically liked how the podcast related GDP to a students GPA. It’s a number
that means a lot but at the same time there’s a lot missing. Especially with
the GDP where it only counts the positives, none of the negatives like the
example of the oil spill. The other interesting part was the standard of living
between the United States and Europe compared to by their GDP’s. I can know say
(with the little knowledge I know about GDP) that I agree with the article that
the GDP is just the start of comparisons. It’s a number that means a lot in one
sense but is very broad at the same time.
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