Gross Domestic Product, GDP calculation, national accounting systems, economic indicators, well-being measurement, inequalities, Simon Kuznets, Stiglitz Sen Fitoussi report, Dominique Méda
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Abstract
Analysis of GDP's history, critiques, and limitations as an economic indicator, including its inability to measure well-being and inequalities.
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[...] - Detailed plan for oral presentation I. The origins and definition of GDP: birth of an economic and legal tool - Historical context : Need to measure national wealth since the 18th century + development of the modern concept by Simon Kuznets + context of the Great Depression and economic stimulus policies. - Definition, methodology of calculation : def + calculation by the three approaches: production, income, expenditure + differentiation: nominal, real, per capita - Legal nature: GDP as a source of indirect law (economic law, tax law) + legal texts governing GDP II. [...]
[...] - Global Harmonisation : UN resolution in 1953 on national accounting systems + successive revisions until 2008 to standardize GDP calculation - Analysis of the obligations of states vis-à-vis international organizations III. Critiques and limitations of GDP: a questioned indicator - Theoretical Critiques : Dominique Méda (2013) : GDP inappropriate for measuring a nation's well-being + Stiglitz, Sen, Fitoussi (2009) : GDP unable to account for inequalities and well-being + inadaptation for evaluating the informal or non-market economy. - Social Limitations : indifference to economic inequalities + 1966 International Pact - Environmental Challenges : Negative externalities not integrated: pollution, resource depletion + Paris Agreement and Critical Agenda criticize the inability of GDP to integrate environmental externalities: climate objectives require alternative indicators + insufficiency of GDP to measure sustainable development IV. [...]
