1. THE GDP MIRAGE.
- Author
-
Mandel, Michael and Coy, Peter
- Subjects
GROSS domestic product ,ECONOMIC indicators ,OCCUPATIONAL training ,ECONOMIC forecasting ,PRODUCT design ,RESEARCH & development - Abstract
The article discusses the use of Gross Domestic Product (GDP) as a key economic indicator. The author opines that because GDP overlooks factors such as widespread economic cuts in areas known as intangible investments, including research and development, product design and worker training programs, it overestimates the overall strength of the economy. The author suggests that to get a more accurate reflection of the economic outlook at any given time, intangible investments should be measured.
- Published
- 2009