My terrific wall by Rachna Shukla https://padlet.com/rachna_shukla15/meukvfuua0k5 Made with the strength to succeed en-us 2018-01-06 12:43:51 UTC 2018-01-07 09:52:13 UTC hello@padlet.com GDP as a measure of Well Being rachna_shukla15 https://padlet.com/rachna_shukla15/meukvfuua0k5/wish/219074787 ‘The many difficulties involved in measuring living standards mean that it is never possible to be certain that the people in one country are better off than those in another country.’ How far do you agree with this comment? [25]

]]> 2018-01-06 12:44:30 UTC https://padlet.com/rachna_shukla15/meukvfuua0k5/wish/219074787 Waldo https://padlet.com/rachna_shukla15/meukvfuua0k5/wish/219128663 Do not agree:
- Briefly defining GDP; briefly explain calculation and why it is calculated (indicator of economic growth)
- The contribution of innovation, investment and structural reform on living standards
- Positive effects of economic growth  (how living standards, consumption, spending, etc are affected by growth)
- Examples showing a correlation between GDP and living standards (with nations having high GDP and high living standards/GDP and HDI rankings)

Agree: 
- Methods and techniques of calculation varies from country to country / countries have different economic objectives, structures and sizes (difficulty in international comparisons)
- Countries change economically overtime, so do their methods of calculating GDP (difficulty in extra-temporal comparisons)
- Difficulty in accounting: digital economy/unorganised sector/informal/shadow markets/non-market activitues/social welfare enhancing activities/externalities/sustainability/breakdown of government spending (factors that overstate/understate the GDP of the economy/ factors that are intangible but contribute to welfare)
- Economic inequality is not reflected clearly in GDP (usage of median income instead of per capita income)
- Economic immeasurables: measures of happiness/political freedom/leisure/social and cultural capital/safety and security/work environments/abundance and quality of natural capital 
- Easterlin Paradox
- Lots of examples
- Other measures and how they account for both material and immaterial indicators of living standards (HDI, Multidimensional Poverty Index, GEM, Green GDP, etc)]]> 2018-01-07 09:34:48 UTC https://padlet.com/rachna_shukla15/meukvfuua0k5/wish/219128663