Stiglitz: Time to Rethink Fixation on GDP?

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Nobel Prize-winning economist Joseph Stiglitz argues that GDP falls short as a measurement of a country's economic well-being. "While GDP per capita was going up, most Americans were getting worse off. Is that a good system?" asks Stiglitz.

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Matthew Bishop interviews Joseph E. Stiglitz, winner of the 2001 Nobel Prize for Economics, and the author of Making Globalization Work, Globalization and Its Discontents and The Three Trillion Dollar War.

His most recent work is the forthcoming Freefall, a searing analysis of how America has exported bad behavior, bad policies and bad economics to the rest of the world, and which outlines how to restore the power balance between markets and government. - 92nd Street Y

Joseph E. Stiglitz is a professor at Columbia University and the chair of the university's Committee on Global Thought. He was a member of the Council of Economic Advisers under Clinton and later the chief economist for the World Bank.

Matthew Bishop is the chief business writer and U.S. business editor of The Economist.

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[mccoya2]

GDP as a measurement belongs in the stone age. The more sick people there are, the more medicine is sold, the higher the GDP. So a country full of sick people is great! Can we PLEASE start using our brains?!

[ViraIVideos]

@ntoiyt GDP is GDP, it will not be changed. Instead a new index will be made, called something else, based on old GDP with all the changes and ideas Stiglitz will recommend.

No one can change the GDP index, it's a defined and noted system. The best they could do is offer an alternative.

[danndan6]

@ViraIVideos no one is trying to change gdp, they're just wanting to relegate it

[danndan6]

@ntoiyt no. GDP measures the value of goods and services produced. we still need that but we don't need to be basing the successs of our nation on the value of goods and services produced

[PureLiberalFire]

@rspencerantiques Name calling is often the true and accurate identification of falsity and depravity!

[rspencerantiques]

@PureLiberalFire Name calling--- the hiding place of the ignorant fucks

[paragshah2112]

@GnomesAmok you are a clueless, pathetic troll. please die as soon as possible

[GnomesAmok]

@paragshah2112

and what exactly does that prove? the "whole world" is a pathocracy? then you apparently have no idea what the term means. "money masters" is a docu-drama, dramatic fiction. you are a clueless, pathetic moron.

[paragshah2112]

@GnomesAmok

it would seem that way to you now, but if you move out of your mom's basement, get a glimpse of this nasty world, and just what you're up against starts to sink in, you'll be eating your words.

wikipedia this : ponerology

go to google movies and watch this movie : money masters (warning its 31/2 hrs long of the most jaw-dropping education you'll ever get)

then read this book : political ponerology

there, i just helped you ... you're welcome.

[GnomesAmok]

@paragshah2112

you have no idea what you're talking about

[paragshah2112]

@GnomesAmok Not only is your reading comprehension abysmal, but your completely primitive and backwards thinking truly is amazing. I mean, at least cow manure would be good for fertilization. That alone makes you a lower form than shit. Stupidity truly knows no bounds in you. Then again, you are just a useless troll.