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Global The MEASURE of a nation is in dollars ie NOMINAL ie one currency
Which is fair to get relative measure of POWER
Which is fair to get relative measure of POWER
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There is a question that has been lingering in my mind for a very very long time.
and it is infact a complex question.Well here goes
Everybody i have known measures the power of nations in GDP. The debates on tv, on this forum, listening to economic experts all i can hear is GDP,GDP,GDP.
The question is GDP everything ? is it more important than say justice,human happiness. does a high GDP means justice for everyone, does high GDP means that ppl are happy.
Ofcourse u need something to measure quantitatively for that GDP is fine. But why base strength of nations on it instead of things like free justice for all,human rights,the value of human life.
I mean to say why don't ppl give importance to this stuff instead of just saying GDP,GDP. If one gives more importance to these things then don't u think that GDP will automatically increase as a side effect.
Share ur thoughts on this issue.
When talking about an individual person we always say is money everything??even though that real rich person may be an A-grade miser but people go towards him,now put this Idea with regards to countries,it doesnt matter for other govts. whether that country doesnt have skyscrapers,6 lane highways etc their back account figure GDP matters more.