Lecture

Economic growth: Limitations of GDP

In course

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Description

This lecture discusses the limitations of using GDP per capita as an indicator of welfare, highlighting the exclusion of non-commercial activities, ignorance of leisure, focus on production rather than consumption, and lack of consideration for wealth distribution, environmental degradation, inequality, and life satisfaction. It also explores the shadow economy, unpaid work importance, and the estimation of the shadow economy's size, providing insights into regional and country-specific data.

Instructor

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Official source

https://mediaspace.epfl.ch/media/0_ggr571p2

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Ontological neighbourhood

Economics

Microeconomics: Economic systems

Environmental science

Environmental policy: Waste management

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