The GDP Is a Good Way to Measure Spending Activity

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G d p is a measure of how much activity there is in an economy. It matters for things like governments, because it can help them work out their tax revenue. G d p isn't perfect but on the other hand, you look at t g d p of countries,. very poorest countries in africa, and the richest countries. And i want to know about how well we are doing in terms of our life expectancy. I want to know how far opportunities are spread around society. Well being, iie, how how happy or satisfied with our lives, how far we think our lives are worth while - that's the key measure.

In this week's episode we're featuring a podcast produced by Intelligence Squared called 'It’s The Economy' in which host Nicola Walton breaks down the complex economic ideas we have all heard of but may not fully understand in under 15 minutes. In this episode Lord O’Donnell, a former Cabinet Secretary who headed the British Civil Service between 2005-2011 under Prime Ministers Tony Blair, Gordon Brown and David Cameron looks at economic growth, what counts as GDP and productivity, and whether national happiness and wellbeing are taken into account. Subscribe to It's The Economy at: https://pod.link/1577180549

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