Finshots Daily The truth about modified Green GDP
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Jan 9, 2025 Dive into the intriguing world of green GDP and its historical roots, reflecting on the economic challenges of the Great Depression. Explore how traditional economic metrics are evolving to include environmental factors, with a focus on innovative efforts in Chhattisgarh. Unpack the complexities of modified green GDP and the hurdles it faces, including the critical need for precise forest cover measurements. The discussion raises important questions about the integrity of environmental metrics and the potential for government manipulation.
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1929 Stock Market Crash
- The 1929 US stock market crash, triggered by borrowed money and economic optimism, devastated the global economy.
- This event highlighted the need for a way to measure economic activity.
GDP's Origins and Limitations
- Simon Kuznets created GNP and GDP to measure economic production.
- GDP became the global standard but Kuznets warned against relying on it solely.
GDP's Blind Spots
- GDP overlooks environmental damage, resource depletion, and well-being.
- It's a crisis metric, not a peacetime happiness indicator.