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On The Disadvantages Of GDP As A Universal Macroeconomic Indicator
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On The Disadvantages Of GDP As A Universal Macroeconomic Indicator
Annotation
PII
S020736760024281-8-
Publication type
Article
Status
Published
Authors
Yuri Knyazev 
Occupation: Chief Researcher
Affiliation: Institute of Economics, Russian Academy of Sciences
Address: 32, Nakhimovskii Prosp., Moscow, 117218, Russian Federation
Edition
Issue 2
Pages
61-79
Abstract

The article explains the shortcomings of GDP as a macroeconomic indicator, which do not allow it to accurately represent the real state of the economy: GDP is based not on the quantity of the goods produced, but on the amount of human labor spent in the country; it is calculated in monetary form on the ba-sis of market prices and tariffs; it distorts cross-country comparisons; it takes into account productive and unproductive, and even useless and destructive labor on an equal basis. The author suggests upgrading the economic indica-tors used in cross-country comparisons and supplementing the GDP with the "gross commodity product" indicator, which reflects the state of only the real sector of the economy, including manufacturing, transportation, R&D and marketing segments

Keywords
gross domestic product, calculation shortcomings, cross-country comparisons, improvement opportunities, gross commodity product
Received
14.03.2023
Date of publication
14.03.2023
Number of purchasers
13
Views
683
Readers community rating
0.0 (0 votes)
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S020736760024281-8-1 Дата внесения правок в статью - 14.03.2023
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References

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6. Babaev V.D., Dubrovskij S.P. Ehkonomicheskij rost: rasshirennaya traktovka. Kache-stvo ehkonomicheskogo rosta // Ehkonomika obrazovaniya. 2015. № 1. S. 33-38.

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8. Rikardo D. Nachala politicheskoj ehkonomii i nalogovogo oblozheniya // M.: Ehksmo. 2008. S. 85

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