Friday, October 24, 2014

Maddie Binning, Chapter 9, Question #2

I think the issue of measuring the economy through the GDP is one that is important for my generation especially. As wealth gaps grow, the unrepresented disparity between the rich and the poor is an economic factor that must be considered when measuring success. In addition, as negative externalities associated with the environment become a more pressing issue. The problem doesn't lie necessarily in the model of the GDP, but it can be deceiving if the population believes a high GDP means pure economic success when there are many issues underlying. This is especially important for younger generations because mismanagement of negative externalities will more than likely be detrimental later on in our timeline as a country.

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