On some Imperfections of the Gross Domestic Product Index

Authors

Keywords
gross domestic product (GDP), green gross domestic product, black gross domestic product, sustainable development, international comparisons, economic growth

Summary
The gross domestic product is the most widespread macroeconomic index, used for macroeconomic analysis and forecasting of economic growth. Despite all its merits it can hardly be considered a perfect indicator of economic growth and nation’s welfare. One of its disadvantages is that it doesn’t record the effects connected with the exhausting of natural resources or with the negative consequences of environment pollution. In this sense the article offers an algorithm for calculating “green GDP” and “black GDP”.

JEL:
Pages: 20
DOI: 

More titles

  • Human Action, Part Four, Chapter XXI.Work and Wages && 1-6

    The psychological problems raised by introversive labor are catallactically irrelevant. Seen from the point of view of economics introversive labor is to be qualified as consumption. Its performance as a rule requires not only the personal efforts of the individuals concerned, but also the expenditure of material factors of production and the ...

  • Reports about the Economic Life and Commerce on Bulgarian Territory, According to Western European Sources (End of XII - XIV Century)

    This paper tries to reveal the concept of western authors about the Bulgarian economy based on a large number of sources....

  • Experience and environmental regulations in Japan - economical aspects and decisions

    Missing...