Posts tagged with “implicit”

Measuring or weighing

By Eric Leltz on 21 October 2011

The recent oil disaster in the gulf of Mexico has caused a rise in the gross domestic product (GDP) adjoining countries. The same happened in Alaska when back in 1989 the oil tanker Exxon Valdez created the biggest natural disaster till that moment. But the Alaskan GDP rose because never had there been so much activity in the country. Hotels, restaurants, shops and gas stations did serious business.
This example shows how absurd it is to use economic growth as a sole indicator of progress. Quality of life is not just measured by the number of produced units. A cynic could say: ‘the more disasters the more employment’.

Continue reading Measuring or weighing