GDP measures wealth that belongs to the rich and powerful - TopicsExpress

GDP measures wealth that belongs to the rich and powerful category. Therefore, GDP shows satisfaction level of wealthy people. GDP cannot show the status of not-wealthy people. The winner scoring the highest GDP gets the applause for the quantity and not for the quality. It is not just about fair distribution of resources, goods and services, quality has a lot to do with attitude, behaviour, conduct of dealings morally and ethically right. Cebr Global’s World Economic League Table (WELT), Malaysia published 2014 ranking puts the US first, followed by China, Japan, Germany, the UK, France, Brazil, Italy, India and Russia, in that order. By 2030, it forecasts that globalization will have reached its mature phase, with China installed as the world’s biggest economy ahead of the US and India in third place, followed by Japan, Brazil, the UK, Germany, South Korea, France and Russia.

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