GDP as an indicator of living standards - reality and myths
I've always wondered if GDP is it really an objective indicator of the country's standard of living, especially when many people always put its annual growth as the main criterion for achieving the economy? Is GDP growth always positive for the end user?
Everything depends on the fact that we can produce a lot and without any special problems - thank God, there are enough resources (forests, oil, gas, fertilizers, metal, etc.), but is this the growth of citizens' solvency and their wealth if it is not sold? I think not.
And sometimes unjustified GDP growth can only contribute to increasing the country's debt burden, which will subsequently affect the decline in the welfare of citizens, rather than its growth, due to the need to raise taxes and reduce budget expenditures.
All this means that GDP is just an economic criterion of the country's development potential, but by no means financial.
M R.Автор - kaktotak.bySpecialization: financial and economic design - modeling of business, investment projects of the real sector, analysis and evaluation of efficiency, optimization of the management decision system.
A wide range of web-based competencies for solving business problems.
Subscribe to my telegram channel - My notes are ECONOMICS + Там я ничего не втюхиваю и не навязываю. Просто делюсь полезной информацией по экономической грамотности. Повышайте своё качество вместе со мной: что, как и почему в экономике на простом языке. Понятия, алгоритмы, процессы, микро- и макроаспекты и многое другое. Может, будет интересно !
And also - WEB Developer's Guide | php+js+seo Notes and native solutions to simple local tasks in PHP, JS. Something about Laravel, WordPress, Vue and SEO.
Personal assistance in economic design and web development:
Financial and economic modeling, analysis, accounting, business planning
Comprehensive web development/project support on the web (php/js, seo – Laravel, WordPress, Vue, telegram, administration, content, advertising in Yandex Direct