Ep. 130: Demystifying GDP
The Seen and the Unseen - hosted by Amit Varma
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The Importance of GDP in a Tough Economy
Keynesianism is that if the economy is in a very bad space, if the government spends a lot of money, then you're putting money in the hands of consumers and they start spending it on goods. The whole idea is when you are going through such turbulent times, the government can save the economy by pumping in more money. And therefore the government is the most important player. It becomes essential to have a measure like GDP, which will tell the government what is the impact of your policies in the short run - meaning let's say in one quarter to quarter three quarters.
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