NewsMine — economy — united-states — 2008-jan-may — Viewing Item

USA economic measure defines misery { March 12 2008 } Original Source Link: (May no longer be active)    http://marketplace.publicradio.org/display/web/2008/03/12/gdp/ http://marketplace.publicradio.org/display/web/2008/03/12/gdp/ Wednesday, March 12, 2008 A new way to define GDP The government is considering whether the current Gross Domestic Product accurately measures U.S. economic progress. Some analysts feel the way GDP is defined can cause some big problems. Sam Eaton reports. ------------------------------------ TEXT OF STORY Scott Jagow: The most common definition of a recession is two straight quarters of negative GDP growth. OK, but what exactly is in this Gross Domestic Product? And does it accurately measure our economic progress? Some say, no, it doesn't. There's a hearing in Washington about it today. Sam Eaton reports from the Marketplace Sustainability Desk. Sam Eaton: Forty years ago, Senator Robert F. Kennedy argued that the GDP, then called Gross National Product, tells us everything about America, "except that which makes life worthwhile." President John F. Kennedy: If we judge the United States of America by that, that Gross National Product counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage. Even today through the prism of GDP, a patient with cancer or the devastation of Hurricane Katrina is as economically beneficial as new jobs. Martin Collier of the Glaser Progress Foundation, which pushed for the hearing, says using GDP to measure the nation's progress can also steer it in the wrong direction. Martin Collier: You are what you measure. You get what you measure. And you fix what you measure. Collier says by assessing factors like income inequality, pollution and the effectiveness of health care along with GDP, lawmakers would have more incentive to fix those problems. In Los Angeles, I'm Sam Eaton for Marketplace.

10 recession proof cities { May 9 2008 } 7000 stores could close this year { April 30 2008 } Americans increasing delinquent on credit cards { November 2007 } Americans sell posessions to makes ends meet { April 29 2008 } Bearsterns takeover causes economic tumble { March 17 2008 } Bernanke fedrate cut disappoints treasury bulls { December 2008 } Bernanke tells congress more rate cuts needed { February 14 2008 } Buffett says recession may be worse than feared { March 2008 } Consumer confidence falls to 26yr low { March 2008 } Consumer prices increase more than forecast { January 2008 } Dollar falls to record low against euro { March 2008 } Dollar rebounds after euro terror threat { March 19 2008 } Dow drops 370 on service sector news { February 5 2008 } Dow products will have price increase { April 2008 } Fed cuts another half point appeasing markets { December 2008 } Fed expects higher inflation { February 20 2008 } Fed uses depression era tactics { February 2008 } Federal reserve takes risk from risky mortgages { March 12 2008 } Food costs rising fastest in 17 years { March 2008 } Food prices causing world crisis { March 2008 } Global selloff causes fed 3 4 rate cut { January 22 2008 } GM largest loss ever for any auto company { January 2008 } Gold jumps 1000 as dollar plummets { March 13 2008 } Housing slump not reducing inflation { January 2008 } Inflation biggest jump in 26 years { January 15 2008 } January wholesale inflation up { January 2008 } Potential fed rate cuts sends gold to new record { December 2008 } Ron paul blames federal reserve for weak economy { January 22 2008 } Stocks fall on slow projected growth { May 21 2008 } Stocks fell 5perc before rebounding { January 23 2008 } Stocks up when bad housing data suggests cut { January 8 2008 } Teens giving up wasteful excessive spending { April 17 2008 } US living standards drop below britain { January 6 2008 } USA economic measure defines misery { March 12 2008 } Wall street optimistic despite main street { May 2 2008 } Wheat prices since 2002 have biggest gain { January 2008 } World drops again as US anticipates rate cut { December 2008 } Files Listed: 37

Correction/submissions

CIA FOIA Archive

National Security Archives

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information, go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purpose of your own that go beyond 'fair use', you must obtain permission from the copyright owner.