The Seen and the Unseen - hosted by Amit Varma cover image

Ep 321: Josh Felman Tries to Make Sense of the World

The Seen and the Unseen - hosted by Amit Varma

CHAPTER

Is GDP Really a Summary Measure of People's Economic Well-Being?

In the United States, GDP is meant to be one summary measure of people's economic well-being. In India, there is what I regard as a really distressing tendency to view numbers as truth. When you try to do the same correlations between GDP here and other indicators of economic activity, you do not get the same nice correlations that you get in the US.

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