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Articles on GDP

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Not all that he seems. Modi supporters in Vadodara, India. Divyakant Solanki/EPA

Modi’s reputation for governance miracles is built on shaky ground

It seems highly likely that Narendra Modi will be the next elected prime minister of India. One reason for that has been a well-orchestrated campaign to represent Modi as some kind of legislative miracle…
Yields of crops such as maize are set to decline in response to 2C of global warming. AAP

IPCC expert wrap: costs of climate change mounting, time to adapt

Climate change is already having a major impact on the planet, with impacts forecast to worsen significantly, according to the latest summary of peer-reviewed climate science from the Intergovernmental…
Stacking the odds? Rebecca Siegel

Here be dragons? China’s economic data may not be all bad

The world’s second-largest economy has become the second-most watched and yet investors, politicians and economists are never quite clear what it is they’re looking at. China’s premier, Li Keqiang, is…
Is this really the kind of society we want? zoomar

The happiness agenda makes for miserable policy

How happy do you feel today? How satisfied are you with your life? Do you think your life has any worth? These are the kind of questions increasingly put to survey respondents as academics and politicians…
Green shoots don’t become tall trees without long-term nurture. Skotkin

Growth based on consumption is only short-term relief

The Office for National Statistics has issued the welcome news that UK GDP rose 0.8% from July to September this year. This is the fastest rate of increase in the past three years and is the third consecutive…
Indian Finance Minister P. Chidambaram is facing high inflation, an annual trade deficit of US$200 billion and a falling rupee. AAP

India’s inflation woes could see rupee fall even further

The Indian economy is in trouble. The anticipated tapering of the US Federal Reserve’s aggressively expansionary quantitative easing program has seen a drying up of capital inflow into a country with a…
Tony Abbott has promised not to cut areas such as health, education and payments to the poor and disadvantaged, but a Commission of Audit report traditionally trumps such Liberal National Party promises. AAP

Hidden in plain sight: commission cuts and non-core promises

There has been much, and justified, criticism, of Tony Abbott’s decision to conceal the costings of his policies until two days before the election, when the electronic media blackout will be in place…
We need a better way of understanding and predicting how well our society is doing. Klesta/Flickr

A more sustainable Australia: measuring success

**A more sustainable Australia.* As the 2013 election campaign continues, we’ve asked academics to look at some of the long-term issues affecting Australia – the issues that will shape our future.* How…
How does Australia’s economy stack up when compared globally?

FactCheck: how strong is Australia’s economy?

“We have among the lowest of budget deficits and debt to GDP of any other major economies in the developed world… If it’s so bad, Mr Abbott, why have we been given by the three ratings agencies a AAA credit…
Buying power doesn’t always stack up as the best measurement for who we are and how far we’ve come. Shutterstock/ MaleWitch

More pie in the sky - economic progress no slice of life

In the verbal volley between Gillard and Abbott, Swan and Hockey, there is a conversation that we are not hearing. It bubbles below the consciousness of mainstream Australia, a conversation that is old…
China’s economic miracle will see it become the world’s greatest financial power; but it critical for the country’s new leaders to ensure its workers aren’t left behind. AAP

China’s economic miracle is close to fruition, but what now for workers?

China’s Communist Party has overseen an economic miracle over the past 20 years, but they are now facing the consequences of becoming the fastest growing economy on the planet. With China’s GDP now standing…
There is little evidence to support the belief that Australia’s productivity declines are linked to the need for labour market reform. AAP

Australia’s choice: the ‘high road’ to productivity or a race to the bottom

It is not easy to devise a solution to Australia’s productivity slowdown when a shared understanding of the problem is so elusive. While there is recognition among policy-makers that productivity is a…
How should we measure the size of the Australian economy? AAP

Punching above our weight: sizing up Australia’s economy

Treasurer Wayne Swan recently noted that Australia now has the world’s twelfth largest economy. This suggests it has moved up three places during Labor’s period of office, and regained the three places…
A poor report card on Australia’s productivity carried some obvious flaws. Flickr

Gloomy productivity report hides some fatal flaws

This week’s global report ranking Australia’s productivity growth performance second-last on a list of 51 countries raised eyebrows and prompted calls for urgent action. The Australian Human Resources…
Economic modelling shows Australia’s GDP will be modestly affected by the carbon tax in the long term: but the equitable redistribution of tax revenue will be critical. AAP

The carbon tax: insurance against climate change?

Cutting greenhouse gas emissions is like buying an insurance policy: we incur a cost to reduce a risk. Every year Australians spend millions on insuring homes, cars and their health, not because they know…
Robert F Kennedy thought it a mistake to equate success with what we produce. RFK Wharehouse

There’s more to good policy than increasing GDP

Economists are regularly criticised for worrying about gross domestic product (GDP) and similar measures. The classic statement of the case was by Robert F Kennedy: “Too much and too long, we seem to have…

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