Ep. 130: Demystifying GDP
The Seen and the Unseen - hosted by Amit Varma
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The Importance of Disaggregated Data in Macroeconomics
GDP as a measure of progress is very inadequate, says Ravi Agrawal. The value that has been added to my life by technology in the last 20 years cannot possibly be calculated he adds. We can go to Amazon prime or Google play or Spotify and press play but we are hardly paying anything for it according to Agrawala. Do you really want to put resources of a state which is already struggling with weak state capacity into measures like quality of life? Are there any countries who should stop worrying about GDP growth because they've achieved hyper capital level of income such as Australia Canada?, asks Mr Agrawal on India's economic development.
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