IS THE GDP OVERRATED?
Introduction
Gross Domestic Product (the GDP) is accepted as one of the main economic indicators. By definition, the GDP is the sum of the values of all the goods and services produced in specific time period in a country by using the current prices. We consider that high amount of production allows us to build a well-designed civilization. If a country can produce more than the needs of the citizens and export the excess production to the other countries, then this country can reach the desired goals. In another word, the GDP is generally accepted as an indicator of well-being. Most ...