If money doesn't buy happiness why do we judge the success of nations by their GDPs?
And why do we measure liberty by the ability to amass wealth rather than by measuring the things someone can do without it?
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TinyViolins · 31-35, M
Simon Kuznets, the guy that created the concept behind GDP, worked with the Department of Commerce during The Great Depression in order for the government to have some kind of way of measuring the economic well-being of the nation.
Kuznets made his opposition known to the US government that GNP (the predecessor to GDP) was not an ideal way to measure economic health, success, or quality of life, but the government was more interested in establishing its credibility than about actually being accountable to the people.
Kuznets made his opposition known to the US government that GNP (the predecessor to GDP) was not an ideal way to measure economic health, success, or quality of life, but the government was more interested in establishing its credibility than about actually being accountable to the people.