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Author: Doctor Lorenzo Fioramonti
Publisher: Zed Books Ltd.
ISBN: 1780322755
Category : Business & Economics
Languages : en
Pages : 187
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Book Description
Gross domestic product is arguably the best-known statistic in the contemporary world, and certainly amongst the most powerful. It drives government policy and sets priorities in a variety of vital social fields - from schooling to healthcare. Yet for perhaps the first time since it was invented in the 1930s, this popular icon of economic growth has come to be regarded by a wide range of people as a 'problem'. After all, does our quality of life really improve when our economy grows 2 or 3 per cent? Can we continue to sacrifice the environment to safeguard a vision of the world based on the illusion of infinite economic growth? Lorenzo Fioramonti takes apart the 'content' of GDP - what it measures, what it doesn't and why - and reveals the powerful political interests that have allowed it to dominate today's economies. In doing so, he demonstrates just how little relevance GDP has to moral principles such as equity, social justice and redistribution, and shows that an alternative is possible, as evinced by the 'de-growth' movement and initiatives such as transition towns. A startling insight into the politics of a number that has come to dominate our everyday lives.
Author: Doctor Lorenzo Fioramonti
Publisher: Zed Books Ltd.
ISBN: 1780322755
Category : Business & Economics
Languages : en
Pages : 187
Get Book Here
Book Description
Gross domestic product is arguably the best-known statistic in the contemporary world, and certainly amongst the most powerful. It drives government policy and sets priorities in a variety of vital social fields - from schooling to healthcare. Yet for perhaps the first time since it was invented in the 1930s, this popular icon of economic growth has come to be regarded by a wide range of people as a 'problem'. After all, does our quality of life really improve when our economy grows 2 or 3 per cent? Can we continue to sacrifice the environment to safeguard a vision of the world based on the illusion of infinite economic growth? Lorenzo Fioramonti takes apart the 'content' of GDP - what it measures, what it doesn't and why - and reveals the powerful political interests that have allowed it to dominate today's economies. In doing so, he demonstrates just how little relevance GDP has to moral principles such as equity, social justice and redistribution, and shows that an alternative is possible, as evinced by the 'de-growth' movement and initiatives such as transition towns. A startling insight into the politics of a number that has come to dominate our everyday lives.
Author: Dirk Philipsen
Publisher: Princeton University Press
ISBN: 0691166528
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
"In one lifetime, GDP, or Gross Domestic Product, has ballooned from a narrow economic tool into a global article of faith. It is our universal yardstick of progress. As The Little Big Number demonstrates, this spells trouble. While economies and cultures measure their performance by it, GDP ignores central facts such as quality, costs, or purpose. It only measures output: more cars, more accidents; more lawyers, more trials; more extraction, more pollution--all count as success. Sustainability and quality of life are overlooked. Losses don't count. GDP promotes a form of stupid growth and ignores real development.How and why did we get to this point? Dirk Philipsen uncovers a submerged history dating back to the 1600s, climaxing with the Great Depression and World War II, when the first version of GDP arrived at the forefront of politics. Transcending ideologies and national differences, GDP was subsequently transformed from a narrow metric to the purpose of economic activity. Today, increasing GDP is the highest goal of politics. In accessible and compelling prose, Philipsen shows how it affects all of us. But the world can no longer afford GDP rule. A finite planet cannot sustain blind and indefinite expansion. If we consider future generations equal to our own, replacing the GDP regime is the ethical imperative of our times. More is not better. As Philipsen demonstrates, the history of GDP reveals unique opportunities to fashion smarter goals and measures. The Little Big Number explores a possible roadmap for a future that advances quality of life rather than indiscriminate growth."--
Author: David Pilling
Publisher: Crown
ISBN: 052557252X
Category : Business & Economics
Languages : en
Pages : 306
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Book Description
A provocative critique of the pieties and fallacies of our obsession with economic growth We live in a society in which a priesthood of economists, wielding impenetrable mathematical formulas, set the framework for public debate. Ultimately, it is the perceived health of the economy which determines how much we can spend on our schools, highways, and defense; economists decide how much unemployment is acceptable and whether it is right to print money or bail out profligate banks. The backlash we are currently witnessing suggests that people are turning against the experts and their faulty understanding of our lives. Despite decades of steady economic growth, many citizens feel more pessimistic than ever, and are voting for candidates who voice undisguised contempt for the technocratic elite. For too long, economics has relied on a language which fails to resonate with people's actual experience, and we are now living with the consequences. In this powerful, incisive book, David Pilling reveals the hidden biases of economic orthodoxy and explores the alternatives to GDP, from measures of wealth, equality, and sustainability to measures of subjective wellbeing. Authoritative, provocative, and eye-opening, The Growth Delusion offers witty and unexpected insights into how our society can respond to the needs of real people instead of pursuing growth at any cost.
Author: Lorenzo Fioramonti
Publisher: Pan Macmillan South africa
ISBN: 1770105182
Category : Political Science
Languages : en
Pages : 246
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Book Description
Economic growth is a constant mantra of politicians, economists and the media. Few understand what it is, but they love and follow it blindly. The reality is that since the global financial crisis, growth has vanished in the more industrialised economies and in the so-called developing countries. Politicians may be panicking, but is this really a bad thing? Using real-life examples and innovative research, acclaimed political economist Lorenzo Fioramonti lays bare society’s perverse obsession with economic growth by showing its many flaws, paradoxes and inconsistencies. He argues that the pursuit of growth often results in more losses than gains and in damage, inequalities and conflicts. By breaking free from the growth mantra, we can build a better society that puts the wellbeing of all at its centre. A wellbeing economy would have tremendous impact on everything we do, boosting small businesses and empowering citizens as the collective leaders of tomorrow. Wellbeing Economy is a manifesto for radical change in South Africa and beyond.
Author: Lorenzo Fioramonti
Publisher: John Wiley & Sons
ISBN: 1509529241
Category : Political Science
Languages : en
Pages : 240
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Book Description
GDP is much more than a simple statistic. It has become the overarching benchmark of success and a powerful ordering principle at the heart of the global economy. But the convergence of major economic, social and environmental crises has exposed the flaws of our economic system which values GDP above all else as a measure of prosperity and growth. In this provocative and inspiring new book, political economist Lorenzo Fioramonti sets out his vision of a world after GDP. Focusing on pioneering research on alternative metrics of progress, governance innovation and institutional change, he makes a compelling case for the profound and positive transformations that could be achieved through a post-GDP system of development. From a new role for small business, households and civil society to a radical evolution of democracy and international relations, Fioramonti sets out a combination of top-down reforms and bottom-up pressures whose impact, he argues, would be unprecedented, making it possible to build a more equitable, sustainable and happy society.
Author: Diane Coyle
Publisher: Princeton University Press
ISBN: 1400873630
Category : Business & Economics
Languages : en
Pages : 181
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Book Description
How GDP came to rule our lives—and why it needs to change Why did the size of the U.S. economy increase by 3 percent on one day in mid-2013—or Ghana's balloon by 60 percent overnight in 2010? Why did the U.K. financial industry show its fastest expansion ever at the end of 2008—just as the world’s financial system went into meltdown? And why was Greece’s chief statistician charged with treason in 2013 for apparently doing nothing more than trying to accurately report the size of his country’s economy? The answers to all these questions lie in the way we define and measure national economies around the world: Gross Domestic Product. This entertaining and informative book tells the story of GDP, making sense of a statistic that appears constantly in the news, business, and politics, and that seems to rule our lives—but that hardly anyone actually understands. Diane Coyle traces the history of this artificial, abstract, complex, but exceedingly important statistic from its eighteenth- and nineteenth-century precursors through its invention in the 1940s and its postwar golden age, and then through the Great Crash up to today. The reader learns why this standard measure of the size of a country’s economy was invented, how it has changed over the decades, and what its strengths and weaknesses are. The book explains why even small changes in GDP can decide elections, influence major political decisions, and determine whether countries can keep borrowing or be thrown into recession. The book ends by making the case that GDP was a good measure for the twentieth century but is increasingly inappropriate for a twenty-first-century economy driven by innovation, services, and intangible goods.
Author: Doctor Lorenzo Fioramonti
Publisher: Zed Books Ltd.
ISBN: 1780322704
Category : Social Science
Languages : en
Pages : 281
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Book Description
Numbers dominate global politics and, as a result, our everyday lives. Credit ratings steer financial markets and can make or break the future of entire nations. GDP drives our economies. Stock market indices flood our media and national debates. Statistical calculations define how we deal with climate change, poverty and sustainability. But what is behind these numbers? In How Numbers Rule the World, Lorenzo Fioramonti reveals the hidden agendas underpinning the use of statistics and those who control them. Most worryingly, he shows how numbers have been used as a means to reinforce the grip of markets on our social and political life, curtailing public participation and rational debate. An innovative and timely exposé of the politics, power and contestation of numbers.
Author: Philipp Lepenies
Publisher: Columbia University Press
ISBN: 0231541430
Category : Business & Economics
Languages : en
Pages : 203
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Book Description
Widely used since the mid-twentieth century, GDP (gross domestic product) has become the world's most powerful statistical indicator of national development and progress. Practically all governments adhere to the idea that GDP growth is a primary economic target, and while criticism of this measure has grown, neither its champions nor its detractors deny its central importance in our political culture. In The Power of a Single Number, Philipp Lepenies recounts the lively history of GDP's political acceptance—and eventual dominance. Locating the origins of GDP measurements in Renaissance England, Lepenies explores the social and political factors that originally hindered its use. It was not until the early 1900s that an ingenuous lone-wolf economist revived and honed GDP's statistical approach. These ideas were then extended by John Maynard Keynes, and a more focused study of national income was born. American economists furthered this work by emphasizing GDP's ties to social well-being, setting the stage for its ascent. GDP finally achieved its singular status during World War II, assuming the importance it retains today. Lepenies's absorbing account helps us understand the personalities and popular events that propelled GDP to supremacy and clarifies current debates over the wisdom of the number's rule.
Author: Jean-Paul Fitouss
Publisher: ReadHowYouWant.com
ISBN: 1459617797
Category : Business & Economics
Languages : en
Pages : 230
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Book Description
In February of 2008, amid the looming global financial crisis, President Nicolas Sarkozy of France asked Nobel Prize-winning economists Joseph Stiglitz and Amartya Sen, along with the distinguished French economist Jean Paul Fitoussi, to establish a commission of leading economists to study whether Gross Domestic Product (GDP) - the most widely used measure of economic activity - is a reliable indicator of economic and social progress. The Commission was given the further task of laying out an agenda for developing better measures. Mismeasuring Our Lives is the result of this major intellectual effort, one with pressing relevance for anyone engaged in assessing how and whether our economy is serving the needs of our society. The authors offer a sweeping assessment of the limits of GDP as a measurement of the well-being of societies - considering, for example, how GDP overlooks economic inequality (with the result that most people can be worse off even though average income is increasing); and does not factor environmental impacts into economic decisions.In place of GDP, Mismeasuring Our Lives introduces a bold new array of concepts, from sustainable measures of economic welfare, to measures of savings and wealth, to a ''green GDP.'' At a time when policymakers worldwide are grappling with unprecedented global financial and environmental issues, here is an essential guide to measuring the things that matter.
Author: Ehsan Masood
Publisher: Icon Books
ISBN: 1785787128
Category : Business & Economics
Languages : en
Pages : 170
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Book Description
'[A] tale of cloak and dagger intrigue, intense rivalries and political machinations you'd expect in a spy thriller.' Engineering & Technology Gross Domestic Product is failing. For decades it has rewarded environmental destruction and obscured inequality. Its formula can be-and has been-gamed to the detriment of developing countries. In this powerfully argued book, now updated with a new chapter, science writer Ehsan Masood shows how GDP fell from the path envisaged by its architects, and how its long-term misapplication has kept large parts of the world in poverty, while helping accelerate global warming and biodiversity loss. As the world rebuilds after the coronavirus pandemic and the accompanying global recession, our need for a more sustainable and inclusive measure of economic growth has never been greater. Change must come if we are to break the cycle. With clarity and passion, Masood shows how we can update GDP for a better future. [previously published as The Great Invention in North America]
