Friday, May 27, 2016

Screw it, I'm going back to GNP


From an excruciatingly long article in The Atlantic from 1995:
Specifically, in 1991 the GNP was turned into the GDP—a quiet change that had very large implications.

Under the old measure, the gross national product, the earnings of a multinational firm were attributed to the country where the firm was owned—and where the profits would eventually return. Under the gross domestic product, however, the profits are attributed to the country where the factory or mine is located, even though they won't stay there. This accounting shift has turned many struggling nations into statistical boomtowns, while aiding the push for a global economy.

"... while aiding the push for a global economy."

Screw it, I'm going back to GNP. Or whatever, some more socially considerate measure, maybe.

No comments: