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GDP: Global Wealth Measurement

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10 'Richest' Countries in the World (With a Huge Caveat)

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86% Informative

For more than 75 years , the standard measurement of a country's wealth has been gross domestic product or GDP.

Some economists argue that we should ditch profit-driven GDP for a metric that reflects quality of life and environmental sustainability.

Some of the wealthiest nations in the world according to GDP per capita are also some of the smallest.

Since World War II , GDP has been the leading global economic indicator of a country's economic wealth.

But GDP has its critics, especially when GDP is used as a proxy not only for wealth but also living standards.

The United States , despite having the highest GDP in the world, is experiencing a shocking decline in average life expectancy.

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semi-formal

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English

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not offensive

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not hateful

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not detected

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long-living

External references

https://www.investopedia.com/updates/purchasing-power-parity-ppp/https://worldpopulationreview.com/country-rankings/richest-countries-in-the-world https://press.princeton.edu/books/hardcover/9780691166520/the-little-big-number https://www.weforum.org/agenda/2021/12/stakeholder-capitalism-episode-1-a-brief-history-of-gdp/#:~:text=The%20birth%20of%20GDP&text=Enter%2C%20Simon%20Kuznets.,whether%20at%20home%20or%20abroad.https://taxfoundation.org/publications/corporate-tax-rates-around-the-world/https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?most_recent_value_desc=true https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?most_recent_value_desc=true https://www.npr.org/sections/health-shots/2023/03/25/1164819944/live-free-and-die-the-sad-state-of-u-s-life-expectancy https://www.nathantrust.com/insights/ireland-is-the-number-1-destination-for-us-tech-firms#:~:text=IBM%20was%20the%20first%20US,set%20up%20operations%20in%20Ireland.https://hdr.undp.org/data-center/human-development-index#/indicies/HDI https://www.bus.umich.edu/OTPR/WP2007-3.pdf https://happyplanetindex.org/wp-content/themes/hpi/public/downloads/happy-planet-index-briefing-paper.pdf https://www.weforum.org/agenda/2021/12/stakeholder-capitalism-episode-1-a-brief-history-of-gdp https://gnhusa.org/genuine-progress-indicator/https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD?most_recent_value_desc=true https://databank.worldbank.org/source/adjusted-net-savings/preview/on https://sanford.duke.edu/profile/dirk-philipsen/https://money.howstuffworks.com/richest-country-in-the-world.htm

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www.investopedia.com worldpopulationreview.com press.princeton.edu www.weforum.org taxfoundation.org data.worldbank.org www.npr.org www.nathantrust.com hdr.undp.org www.bus.umich.edu happyplanetindex.org gnhusa.org databank.worldbank.org sanford.duke.edu money.howstuffworks.com

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