Comments on: Why The GDP Needs A Makeover

By: Weekend reading: Real estate realities

Weekend reading: Real estate realities — Sat, 13 Feb 2010 10:42:20 +0000

[...] Why the GDP needs a makeover – Eliminate the Muda [...]

By: Seeds of Knowledge 2.11.10

Seeds of Knowledge 2.11.10 — Sat, 13 Feb 2010 05:47:01 +0000

[...] Greg at Eliminate the Muda let me rant a bit about the GDP in the post titled: Why the GDP Needs a Makeover. [...]

By: The LeanLifeCoach

The LeanLifeCoach — Fri, 12 Feb 2010 18:31:23 +0000

@Monevator – Thank you for contributing to the discussion!

The more I have pondered Ryan’s post and after reading the link you provided the more I’m reminded that we shouldn’t bank on statistics. I like Stiglitz point that we should “have an array of numbers”, but they are only indicators, not the real world. When you think about it, it is sad that millions of dollars run from the market because of a single number which is further impacted because those dollars run!

By: Ryan @ Planting Dollars

Ryan @ Planting Dollars — Fri, 12 Feb 2010 18:25:28 +0000

Thanks for posting the link to this. I found it interesting that they compared running a country to a corporation in that both should do yearly reports.

I also liked this line from the article:
“Economic resources are not all that matter in people?s lives” – Funny that even needs to be said.
.-= Ryan @ Planting Dollars´s last blog ..Hiking Diamond Head and Snorkeling In Waikiki =-.

By: Monevator

Monevator — Fri, 12 Feb 2010 14:52:13 +0000

Just thought I'd stop back as I found a link to the Sarkozy/Stiglitz tie-up when I got back from work: Measuring Gross Domestic Product + Happiness Hope it's interesting! .-= Monevator´s last blog ..Should you back Bolton in the China shop? =-.

By: Ryan @ Planting Dollars

Ryan @ Planting Dollars — Fri, 12 Feb 2010 02:41:06 +0000

Very true, Google is one of my best friends... Off to Wikipedia I go again! .-= Ryan @ Planting Dollars´s last blog ..Hiking Diamond Head and Snorkeling In Waikiki =-.

By: Monevator

Monevator — Thu, 11 Feb 2010 21:55:48 +0000

Are you familiar with the US Noble Prize winning economist Joseph Stiglitz? He’s been in the news a lot with the financial crisis.

Anyway he is working with French President Sarkozy on some new measure of GDP that would take into account more elements of human wellbeing. I saw him talk recently and wrote it up on my blog, but unfortunately I didn’t have room to cover this. Google may be your friend though!