Livewire news update on the usefulness of GDP as a measure of 'growth' in the digital age was a great read. Leads one to question the other 'flaws' in GDP as...

Jordan Eliseo

Livewire news update on the usefulness of GDP as a measure of 'growth' in the digital age was a great read. Leads one to question the other 'flaws' in GDP as it were, which is merely a measurement of spending growth, not necessarily a growth in prosperity. As anyone whose ever gone for a long weekend in Las Vegas would attest, it's not hard to experience spending growth there, but very few leave Sin City in a more prosperous state For my money, GDP is a flawed measurement, or at the very least, its usefulness as a measurement of overall prosperity is severely limited in todays world for two major reasons 1 - the modern family, where two parents are typically working, either through choice or necessity 2 - the unimaginably large role government plays in society today, compared to 100 years ago. Full blog on this subject available here (VIEW LINK)


About this contributor

Jordan Eliseo

Jordan Eliseo

, ABC Bullion

ABC Bullion Chief Economist. Gold bull since early 2000s, have spent +20yrs working in investment analytics, research & portfolio construction. Author of two books on investing in gold and causes of the GFC. Lover of markets, competition & technology

Expertise

economy gdp wealth

Comments

Please sign in to comment on this wire.