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The Pros And Cons Of GDP Development

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Introduction

The accompanying paper analyzes the contentions and the key thoughts expressed in an article by Robert Costanza and Ida Costanza ' time to leave the GDP behind ‘.283-285 [ 2014]. It will further center around the issues with numerous nations with generally high GDP development yet poor societal condition India being in the spotlight being a perfect example. This raises attention the global concern that Is GDP growth the most important thing for the countries? or is there any life beyond GDP?

GDP is a misleading measure of national achievement. Nations should now act to embrace new metrics urges Robert Costanza (Costanza and Costanza 2014). Robert F Kennedy once mentioned that GDP measures everything except that which makes life …show more content…

The politician and the leaders of the country have a task now to let go of their greed for unconditional growth and take a step back to look at the people they represent. The Indian democracy needs improvements to align country’s direction with interests of the people. Media can play a key role in this if they shift their eye from fancy scandals to the harsh reality of poverty, corruption and the need for progress. More and more alternatives should be introduced by the government to GDP like HDI, WVS (World value surveys) and GPI Genuine progress indicator).to unlock the great underlying potential of India, social progress had to be made. The challenge is to combine the economics of growth with the economics of equality and social justice.in coming years the United Nation’s Sustainable Development Goals(SDG) should replace Millennium Development Goals as SDG can expand to include comprehensive measures of sustainable well beings. The world should realize that the real pride is not in the country’s monetary development but in the happiness and the satisfaction level of the people. National statistical systems need to widen their approach because THERE’S MORE TO LIFE THAN JUST

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