GDP: The World’s Most Powerful Formula and Why it Must Now Change



GDP: The World’s Most Powerful Formula and Why it Must Now Change

gdp the world’s most powerful formula and why it must now change


GDP: The World’s Most Powerful Formula and Why it Must Now Change

GDP: The World’s Most Powerful Formula and Why it Must Now Change : 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, nowupdated with a new chapter, science writer Ehsan Masood shows how GDP fell fromthe path envisaged by its architects, and how its long-term misapplication haskept large parts of the world in poverty, while helping accelerate globalwarming and biodiversity loss.

As the world rebuildsafter the coronavirus pandemic and the accompanying global recession, our needfor a more sustainable and inclusive measure of economic growth has never beengreater. Change must come if we are to break the cycle. With clarity andpassion, Masood shows how we can update GDP for a better future.

[previously published as The Great Invention in North America]

A highly topical look at the formula that dominates global economies, and why it has outlived its usefulness. Gross Domestic Product (GDP) is the world’s economic health-check, an influential ranking of global prosperity. A rising number is manna for markets and keeps business buzzing; a falling one is a portent of doom for everyone. But, as science writer Ehsan Masood deftly shows in this second edition of GDP, that the measure can be unforgiving for those countries that cannot be – or choose not to be – outlined by its rules. And it fails to outline much of what is really important to our lives. GDP was created to help Western economies rebuild after the horrors of the Great Depression and to rise again from the fires of the Second World War. But it simultaneously rewarded decades of environmental destruction, and now, amid an unprecedented economic crisis after a global pandemic, it faces a fight for its survival. What began as a useful formula to assess a country’s path to prosperity, has trapped societies and leaders into a system of measurement from which the world has to break free. We must, and this book shows how we can.

Book Title: GDP: The World’s Most Powerful Formula and Why it Must Now Change



 

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