Gross domestic product Quotes

“Gross National Happiness is more important than Gross Domestic Product. attr to Buthan's King Jigme Singye Wangchuck”

“The success of our economy has always depended not just on the size of our gross domestic product, but on the reach of our prosperity; on the ability to extend opportunity to every willing heart - not out of charity, but because it is the surest route to our common good.”

“Economics was like psychology, a pseudoscience trying to hide that fact with intense theoretical hyperelaboration. And gross domestic product was one of those unfortunate measurement concepts, like inches or the British thermal unit, that ought to have been retired long before.”

“And it was back in the mid-1980s, and as I point out in a piece, that was when we are spending about eight percent of our gross domestic product on health care. And even then, we had the impression that so much of the excessive, aggressive medical treatment that took place at the end of life was not only unnecessary but it was cruel.”

“The problem with gross domestic product is the gross bit. There are no deductions involved: all economic activity is accounted as if it were of positive value. Social harm is added to, not subtracted from, social good. A train crash which generates £1bn worth of track repairs, medical bills and funeral costs is deemed by this measure as beneficial as an uninterrupted service which generates £1bn in ticket sales.”

“The senior British economic thinker on climate, Sir Nicholas Stern, has estimated that if we don't reverse climate change, the costs of dealing with the resulting catastrophe would be as much as twenty percent of the world's Gross Domestic Product. He's saying that if we do nothing about climate change, then we will have to spend a full fifth of our planet's economic energy on dealing with the floods, hurricanes, droughts, food shortages, and epidemics that will result.”

“China uses about half of the world’s cement for its new roads and buildings.According to the World Bank in 2007, China had 16 of the world’s 20 most polluted cities.One day in January 2013, the air pollution index in Beijing was 755—measured on a scale of 0 to 500!In late 2012, 16,000 dead pigs were found floating in the river that supplies water toShanghai, the PRC’s largest city. For 2010, a ministry of the Chinese government estimated the monetary cost of the environmental damage caused by rapid industrialization at $230 billion, which is 3.5 percent of China’s gross domestic product.Air pollution from Chinese factories wafts over to the Koreas and Japan. Sometimes, upper atmospheric winds carry the sulphur dioxide from China’s coal-burning clear over to North America’s west coast.”