Wednesday, August 7, 2019

What is GDP? (CNBC on YouTube and their explainer videos)

I find myself watching a lot of these interesting videos on the YouTube channel of CNBC. In this video it explains what GDP is. If you finished college you probably had this lesson already but if you didn't go in the field of finance or marketing you probably wouldn't care much about this. Truth is I still don't and it does seem lacking in terms of tracking the real growth of the regular citizen in a country. I'll talk in general because I'm not smart enough to really understand this but while 3rd world countries in Asia seem to be growing in GDP the poverty gap is also growing. This might just be a measurement of those people affected by these numbers. It doesn't look at those people in the gray area of the economy those below the poverty line and those who are unemployed. I think Bhutan even measure the gross happiness of it's citizens as part of its economic data. I believe this is the more important statistic to measure.


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