Quotes & Sayings About Gdp

The Obama administration's attempted short-term fixes, even with unprecedented monetary easing by the Federal Reserve, produced average GDP growth of just 2.2% over the past three years, and the consensus outlook appears no better for the year ahead. — Glenn Hubbard

If the interest rate the country pays on its debt is higher than the growth of nominal GDP (that's real GDP plus inflation) that debt ratio automatically goes up - unless the government runs a surplus in the budget excluding interest. Conversely, when the interest rate a country pays on its debt is below its growth rate, the ratio automatically drops, unless there's a deficit in the budget, excluding interest. The latter scenario - having interest rates below the growth rate - is like having the wind at your back. And that's the situation Spain, Ireland and Portugal should all be in this year. Italy is close. — Anonymous

The gross domestic product (GDP) was created in the 1930s to measure the value of the sum total of economic goods and services generated over a single year. The problem with the index is that it counts negative as well as positive economic activity. If a country invests large sums of money in armaments, builds prisons, expands police security, and has to clean up polluted environments and the like, it's included in the GDP. Simon Kuznets, an American who invented the GDP measurement tool, pointed out early on that "[t]he welfare of a nation can . . . scarcely be inferred from a measurement of national income."28 Later in life, Kuznets became even more emphatic about the drawbacks of relying on the GDP as a gauge of economic prosperity. He warned that "[d]istinctions must be kept in mind between quantity and quality of growth . . . . Goals for 'more' growth should specify more growth of what and for what."29 — Jeremy Rifkin

The majority of humankind does not accept this system, despite claims of worldwide support. Even with Russia's ratification, 75% of the world's CO2 is emitted by, 68% of the world's GDP is produced in, and 89% of the world's population live in countries that are not handcuffed by Kyoto's restrictions. Like fascism and communism, Kyotoism is an attack on basic human freedoms behind a smokescreen of propaganda. Like those ideologies of human hatred, it will be exposed and defeated. — Andrey Illarionov

The United States is absolutely ripe for a rise in gasoline taxes. The nominal gasoline excise tax rate has been fixed at 18.4 cents per gallon since 1994.29 Inflation alone has reduced the real value of that tax per gallon by around 30 percent. As with other federal tax rates, the U.S. excise tax rate on gasoline is extremely low by international comparison. We might conservatively assume that by 2015 an extra 0.5 percent of GDP could be collected by some combination of a higher gasoline excise tax and modest carbon levies on other fossil fuels (such as on coal at the utilities). Other — Jeffrey D. Sachs

What are these so-called austerity measures? What do they really bring? Oh, they bring a lot more poverty. Oh, they bring a worse GDP. Oh, they bring more unemployment. — Gerald Celente

It's time we admitted that there's more to life than money, and it's time we focused not just on GDP, but on GWB - general well-being — David Cameron

The massive debt we have racked up to finance our wasteful government is pulling down growth today. Gross debt over 90 percent of GDP weakens growth now. Not tomorrow - now. — Jeff Sessions

I just think that - when a country needs more income and we do, we're only taking in 15 percent of GDP, I mean, that - that - when a country needs more income, they should get it from the people that have it. — Warren Buffett

Should we consider the Exxon Valdez spill a "success," since it boosted GDP? ========== Culture Jam: — Anonymous

I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection. — Warren Buffett

measures like GDP per person give only a rough reflection of the overall level of wellbeing of an individual or a nation. But for sustainable development we are interested in raising human wellbeing, not just in raising income, still less in a mad race for more riches for people who are already rich. Therefore, it is important to ask how we can best measure wellbeing (or life satisfaction) beyond GDP per capita. — Jeffrey D. Sachs

I'm sure Mark Carney is a very clever young man, but I think that the government would be mad to move from inflation targeting to money GDP targeting. — Nigel Lawson

America cut back on "welfare" from the 1970s onward. Family income support fell from 0.4 percent of GDP in 1970 to under 0.2 percent in 2010.16 Welfare still looms large in the public's imagination, but it plays little role in the budget and the deficit. It's been a long time since America was generous to its poor families with children! The — Jeffrey D. Sachs

When gross public debt exceeds 90 percent of GDP, economic growth tends to decline considerably. — Kevin McCarthy

Global warming could be solved by shifting three to four per cent of global GDP to pay for it. — Ken Livingstone

While I was at Microsoft, the annual revenues grew larger than the GDP of the Republic of Ghana. — Patrick Awuah Jr.

In a clean break from the Obama years, and frankly from the years before this president, we will keep federal spending at 20 percent of GDP, or less. That is enough. The choice is whether to put hard limits on economic growth, or hard limits on the size of government, and we choose to limit government. — Paul Ryan

In general, the PC's always had a fairly decent tie to GDP. — Brian Krzanich

After almost 50 years in which federal spending averaged about 20 percent of GDP, Joe Sestak and Nancy Pelosi took federal spending to 25 percent. You know, that's a 25 percent increase in the size of the government overnight. That's what we - that's what we've got to rein in. — Pat Toomey

Slow growth and inflation have a tendency to accompany large deficits and increasing debt as a percentage of GDP. — Bill Gross

GDP doesn't register, as Robert Kennedy put it, "the beauty of our poetry or the strength of our marriages, or the intelligence of our public debate." GDP measures everything, Kennedy concluded, "except that which makes life worthwhile." Nor does GDP take into account unpaid work, the so-called compassionate economy. — Eric Weiner

Another chestnut is that millionaires and billionaires are "job creators." U.S. corporations have recently had their most profitable quarters in history; at the end of 2011, Apple was sitting on $97.6 billion in cash, more than the GDP of most small countries. So where are the jobs? Overwhelmingly, they went to China.4 Another — Mike Lofgren

Given the rest of the economic news, including the fact that GDP growth is positive, inflation is still low, jobless claims are still moving downward and temporary services are firming up, that means the recovery continues, and we hope it will continue in a more robust fashion, — Elaine Chao

Our estimates suggest that a tax increase of 1 percent of GDP reduces output over the next three years by nearly 3 percent. The effect is highly significant. — Christina Romer

Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0 percent balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy. — Frances O'Grady

As Erik Brynjolfsson and Andrew McAfee point out in their book, the four key measures of an economy's health (per capita GDP, labor productivity, the number of jobs, and median household income) all rose together for most of the Cold War years. "For more than three decades after World War II, all four went up steadily and in almost perfect lockstep," Brynjolfsson noted in a June 2015 interview with the Harvard Business Review. "Job growth and wage growth, in other words, kept pace with gains in output and productivity. American workers not only created more wealth but also captured a proportional share of the gains." In — Thomas L. Friedman

The United States of America was a pirate nation for the first one hundred years of its existence, ripping off the patents and trademarks of the imperial European powers it had liberated itself from by blood. By keeping their GDP at home, the U.S. revolutionaries were able to bootstrap their nation into an industrial powerhouse. Now, it seems, their descendants are bent on ensuring that no other country can pull the same trick off. — Cory Doctorow

If female were working in the same proportion as men do, the level of GDP would be up 27 percent in a country like India, but also up 9 percent in Japan and up 5 percent in the United States of America. It's not just a moral issue, not just a philosophical issue. It just makes economic sense. — Christine Lagarde

I'm happy that the GDP is up and unemployment is down. Yay! But I'm not drinking champagne. In fact, I'm hitting alarm buttons everywhere I can. Our once-solid middle class is in mortal danger - in danger and running out of time. Every one of those happy numbers is used by nearly every economic reporter and pundit and politician, but those numbers paper over the fact that America's middle class is literally disappearing. NO — Elizabeth Warren

The shift in national power may be overshadowed by an even more fundamental shift in the nature of power. Enabled by communications technologies, power will shift toward multifaceted and amorphous networks that will form to influence state and global actions. Those countries with some of the strongest fundamentals - GDP, population size, etc. - will not be able to punch their weight unless they also learn to operate in networks and coalitions in a multipolar world. — National Research Council

Women are a dynamic economic force. We represent the largest consumer market in the world and are drivers of GDP. More and more companies recognize that when they support women as customers, employees, leaders, future investors and partners, they are adopting sound business strategies and advancing social progress. — Melanne Verveer

The US economy, because it's so energy wasteful, is much less efficient than either the European or Japanese economies. It takes us twice as much energy to produce a unit of GDP as it does in Europe and Japan. So, we're fundamentally less efficient and therefore less competitive, and the sooner we being to tighten up, the better it will be for our economy and society. — Hazel Henderson

On any given day, according to UPS, 2 percent of the world's GDP can be found in UPS delivery trucks or package cars. — Thomas L. Friedman

GDP does not allow for the health of our children, the quality of their education, or the joy of their play — Robert Kennedy

The combination of higher income taxation and wealth taxation would thereby raise at least 2 percentage points of GDP from the very top earners. But even if they had to pay another 2 percent of GDP, there would certainly be no need to shed tears for the rich. Their net-of-tax income would remain around 10 percent of GDP, a share of national income two-thirds higher than the 6 percent of GDP in 1980. There — Jeffrey D. Sachs

World military spending has now risen to over $1.2 trillion. This incredible sum represents 2.5 per cent of GDP (global gross domestic product). Even if 1 per cent of it were redirected towards development, the world would be much closer to achieving the Millennium Development Goals. — Ban Ki-moon

In the eighties and nineties, the innovation agenda was exclusively focused on enterprises. There was a time in which economic and social issues were seen as separate. Economy was producing wealth, society was spending. In the 21st century economy, this is not true anymore. Sectors like health, social services and education have a tendency to grow, in GDP percentage as well as in creating employment, whereas other industries are decreasing. In the long term, an innovation in social services or education will be as important as an innovation in the pharmaceutical or aerospatial industry. — Diogo Vasconcelos

If there is one number to which the rights of millions will be happily sacrificed, it is the national GDP growth rate. — William Easterly

How much does it cost to treat leprosy? One $3 dose of antibiotic will cure a mild case; a $20 regimen of three antibiotics will cure a more severe case. The World Health Organization even provides the drugs free,
but India's health care infrastructure is not good enough to identify the afflicted and get them the
medicine they need.

So, more than 100,000 people in India are horribly disfigured by a disease that costs $3 to cure.
That is what it means to have a per capita GDP of $2,900. — Charles Wheelan

The welfare of a nation can scarcely be inferred from a measurement of national income as defined by the GDP. — Simon Kuznets

Qatar is giving 2.8% of our GDP to research. This is something again that is a breakthrough, as nobody was even thinking of research as a tool or component for advancement in this part of the world. — Mozah Bint Nasser Al Missned

Government is taking 40 percent of the GDP. And that's at the state, local and federal level. President Obama has taken government spending at the federal level from 20 percent to 25 percent. Look, at some point, you cease being a free economy, and you become a government economy. And we've got to stop that. — Mitt Romney

I think, my generation, it's hard to have hope when you got a $700-trillion derivatives debt to pay and a bubble about to explode and $500 trillion worth of GDP. — Shia Labeouf

Robots can now milk cows. Oil prices have fallen globally, meaning both the petro-states and those indirectly propped up by them are weakened. At the same time, slower growth in China has lately shrunk its voracious appetite for African, Australian, and Latin American commodities. China accounted for more than a third of global growth in recent years, and its growth engine multiplied the growth of many of the countries that exported raw materials to Beijing. That has slowed. China's total debt has grown from roughly 150 percent of its GDP in 2007 to around 240 percent today - a massive increase in one decade that is dampening its growth and its imports and shrinking China's wallet for foreign aid and investment in African and Latin American commodity-exporting countries. In — Thomas L. Friedman

I'm pleased that some economists and sociologists are beginning to talk about, for example, alternative measures of human well-being - alternative, that is, to GDP, on which the world runs. — John Sulston

Today, banking assets (that is, loans) in the world's major economies are equivalent to around 150 per cent of those countries' combined GDP. — Niall Ferguson

The reductionist measure of yield is to agriculture systems, what GDP is to economic systems. It is time to move from measuring yield of commodities, to health and well-being of ecosystems and communities. Industrial agriculture has its roots in war. Ecological agriculture allows us to make peace with the earth, soil and the society. — Vandana Shiva

Credit is a promise to deliver money. It will produce GDP but you'll create credit ... So you reach a certain point that that you can't do that anymore ... There are choices. And how do we best support, apportion the money? How much is going to be transferred? — Ray Dalio

In the last 5 years, American employers have lost over $150 billion of productivity to depression alone. That is more than the GDP of 28 different States during the same period. — Patrick J. Kennedy

And the irony is that the war purchases are recorded as a positive for economic growth and the GDP. Though the war spending is an economic negative and provides no improvement in the people's standard of living, the government statisticians brag about an upward blip in the GDP. Besides, these bills are paid for by borrowing and printing money, thus increasing future debt obligations and causing higher prices for the next generation. — Ron Paul

During the twentieth century, however, the size, scope, and power of government exploded. Total government spending increased from 6.73 percent of GDP in 1906 to 37.79 percent of GDP in 2014.[2] The dollar has lost more than 95 percent of its value due to the inflationary policies of the Federal Reserve. Top marginal income tax rates have been as high as 94 percent. Entitlement programs now constitute more than 60 percent of the federal budget. And businesses are hog-tied by more than 175,000 pages of red tape in the Code of Federal Regulations. What — Michael Dahlen

In early 2014, the global economy's top five companies' gross cash holdings - those of Apple, Google, Microsoft, as well as the US telecom giant Verizon and the Korean electronics conglomerate Samsung - came to $387 billion, the equivalent of the 2013 GDP of the United Arab Emirates.78 This capital imbalance puts the fate of the world economy in the hands of the few cash hoarders like Apple and Google, whose profits are mostly kept offshore to avoid paying US tax. "Apple, Google and Facebook are latter-day scrooges," worries the Financial Times columnist John Plender about a corporate miserliness that is undermining the growth of the world economy. — Andrew Keen

The human world lives in a framework called global economics. We live in a system based on GDP, which drives consumption. it causes people to compete with each other through trade in a way that they all grow. — John Sulston

The European Commission granted France an extra two years to meet its mandated budget deficit target of 3% of GDP. The deadline had already been extended by two years in 2013. It gave little explanation for the latest extension, which disappointed fiscal hawks. — Anonymous

Entitlements seem to grow with prosperity; not only because they are indexed to inflation or GDP, but also because a prosperous country tells itself it can afford more benefits. — Amity Shlaes

The issue of universal coverage is not a matter of economics. Little more than 1 percent of GDP assigned to health could cover all. It is a matter of soul. — Uwe Reinhardt

From the recycling miracles in the soil; an army of predators ridding us of unwanted pests; an abundance of life creating a genetic codebook that underpins our food, pharmaceutical industries and much more, it has been estimated that these and other services are each year worth about double global GDP — Tony Juniper

Yes. We do think that the stimulus package is raising GDP and raising employment relative to what would have happened otherwise. — Doug Elmendorf

By 2060, India's economy is projected to be larger than China's because of its greater population growth. India is forecast to produce about one-quarter of world GDP from 2040 through the rest of this century. — Jeremy J. Siegel

Recognition of the value of time, the change in our attitude to time, time management and time consciousness translate into economic growth or increase in GDP. — Sunday Adelaja

We think of GDP as a measure of the wealth that a country generates each year. But from a thermodynamic point of view, it is more a measure of the temporary energy value embedded in the goods or services produced at the expense of the diminution of the available energy reserves and an accumulation of entropic waste. Since — Jeremy Rifkin

Europe and North America, we are told, are less dependent on energy-intensive heavy industry than in the 1960s and 1970s. It seems we squeeze more GDP out of a barrel of oil than in those benighted days. — James Buchan

You don't actually find a strong correlation between- top-line GDP growth and making money in the market. It- it seems like you should. The fastest-growing countries should give you the highest return. They simply don't. But, there's only four of us- that- that believe that story. Everyone else in the world believes that if you grow fast like China, you'll outperform in the stock market. — Jeremy Grantham

GDP is simply the sum of all goods and services a nation produces over a given time. The sale of an assault rifle and the sale of an antibiotic both contribute equally to the national tally (assuming the sales price is the same). It's as if we tracked our caloric intake but cared not one whit what kind of calories we consumed. Whole grains or lard - or rat poison, for that matter. Calories are calories. GDP — Eric Weiner

I have always said that I want Malawi to attain growth that should not just be seen in GDP, but in the growth of opportunities for all, protection for all, and equality for all. — Joyce Banda

Today's market action is driven by the slower GDP growth rate. Despite oil being higher, I think the GDP kind of overruled everything and just makes the market feel better about what the Fed is going to do, or rather not do. — L'Wren Scott

Even in recent times, the empirical evidence does not support the claim that trade liberalization or incentive neutrality leads to faster growth. It is true that higher manufacturing growth rates have been typically associated with higher export growth rates (mostly in countries where export and import shares to GDP grew), but there is no statistical relation between either of these growth rates or degree of trade restrictions. Rather, almost all of successful export-oriented growth has come with selective trade and industrialization policies. In this regard, stable exchange rates and national price levels seem to be considerably more important than import policy in producing successful export-oriented growth — Anwar Shaikh

What it means to be human is to bring up your children in safety, educate them, keep them healthy, teach them how to care for themselves and others, allow them to develop in their own way among adults who are sane and responsibile, who know the value of the world and not its economic potential. It means art, it means time, it means all the invisibles never counted by the GDP and the census figures. It means knowing that life has an inside as well as an outside. And I think it means love. — Jeanette Winterson

Charitable giving in the United States has remained at 2% of GDP since 1970. — Jeff Henderson

One industrial age belief is that GDP or GNP is a measure of progress. I don't care if you're the President of China or the U.S., if your country doesn't grow, you're in trouble. But we all know that beyond a certain level of material need, further material acquisition doesn't make people happier. — Peter Senge

For most of human history, the main goal of states has been to conquer land and to achieve glory for their rulers, usually at others' expense. Then in recent decades it was all about GDP. It's only in very recent history that rulers have been willing to commit themselves to helping their citizens live happier lives. — Geoff Mulgan

All of our competitors around the world, every country is investing more in infrastructure as a percentage of their GDP than we are. And down the road our children and grandchildren will have to compete with that more and more. — Douglas R. Oberhelman

I think the main figure that matters to all of us, including people in the media, is: How does GDP per capita grow? And those figures have been very good. There is a huge flux both up and down, so it isn't like we're all static in status. What's important is that pie grows. — Charlie Munger

I have seen businesses and government come together to provide women entrepreneurs with the training they need to better access markets, take advantage of trade agreements, and in the process grow businesses, jobs, and GDP. These are partnerships that transform lives. — Melanne Verveer

We are misery-making machines! Homo sapiens has perfected the art of causing suffering. Pain is humankind's collective GDP. — Henry Rollins

If every country committed to spending 0.05 per cent of GDP on researching non-carbon-emitting energy technologies, that would cost $25 billion a year, and it would do a lot more than massive carbon cuts to fight warming and save lives. — Bjorn Lomborg

GDP tells you nothing about sustainability — Joseph Stiglitz

If your credit is going to grow at 10-15 percent per year in order to get your 5 percent GDP growth per year, eventually you're going to have a problem. This isn't a stable system. — Adair Turner

We've used up a lot of bullets. And we talk about stimulus. But the truth is, we're running a federal deficit that's 9 percent of GDP. That is stimulative as all get out. It's more stimulative than any policy we've followed since World War II. — Warren Buffett

Strictly from the perspective of human well-being, the richest-but-warmest world characterized by the A1FI scenario would probably be superior to the poorer-but-cooler worlds at least through 2085, particularly if one considers the numerous ways GDP per capita advances human well-being. — Indur M. Goklany

Brain-like in function and speed, the internet connected over one-third of the global population. Three million searches every minute; one-hundred-trillion emails every year; more Facebook users than people in North America, all with with personal photos, videos, apps, and chats. There were dozens of dating sites, an immersive universe called 2nd Life that boasted a country-sized GDP, a slew of viruses, obnoxious advertising, more than a billion photos of naked women, and seventy-two hours of video uploaded to YouTube every minute. This was the environment where the friendship flourished. — Jake Vander Ark

You won't be reading reviews of the dystopian sci-fi flick Aeon Flux in the papers today because it wasn't screened for the press-and, given that it cost the GDP of a small country and that Charlize Theron and the director, Karyn Kusama, are critics' darlings, this could mean but one thing: A stinker. A weapon of mass destruction. A planet-killer. Folks, I'll never understand studios. Aeon Flux is not that terrible. — David Edelstein

India for sure is a mobile-first country. But I don't think it will be a mobile-only country for all time. An emerging market will have more computing in their lives, not less computing, as there is more GDP and there is more need. As they grow, they will also want computers that grow from their phone. — Satya Nadella

It costs governments money to keep fuel prices low. Oil-rich Yemen, for instance, devotes 9 percent of its GDP to making sure its people don't riot when oil prices rise. — Robert Kiyosaki

GDP of only just over Italy's that's trying to maintain — Jeff Wise

If you have a private firm and you spend a ton of money to pay employees, but what you produce is a flop, there will be no value to GDP. But government spending all gets counted as contributing to economic growth. That's why in the early days of creating these measurements, some people didn't want to count government spending. — Robert Higgs

The problem with gross domestic product is the gross bit. There are no deductions involved: all economic activity is accounted as if it were of positive value. Social harm is added to, not subtracted from, social good. A train crash which generates £1bn worth of track repairs, medical bills and funeral costs is deemed by this measure as beneficial as an uninterrupted service which generates £1bn in ticket sales. — George Monbiot

It turns out from a number of more recent studies that reported happiness is strongly positively linked with the change or growth in GDP per capita from year to year. — Diane Coyle

Influence is best measured not only by military hardware and GDP, but also by other people's perceptions that we, the United States, are using our power legitimately. That belief - that we are acting in the interests of the global commons and in accordance with the rule of law - is what the military would call a 'force multiplier.' — Samantha Power

The quality of the medical care delivered, including the pharmaceutical industry, has improved a lot. I don't think it's crazy for a rich country like the USto spend 15% of GDP on healthcare, and if it rose to 16-17%, it's not a big worry. — Charlie Munger

The mining industry's contribution to the GDP varies between 2.25 and 2.5 per cent. — A. P. J. Abdul Kalam

Brazil fell into recession in the first half of the year, according to official data which showed the economy shrinking by 0.6% in the second quarter and 0.2% in the first. The main reason was another big drop in investment. The government had said that it expects GDP to grow by 1.8% this year, but that now seems unlikely. — Anonymous

Creativity is key to productivity and prosperity. — Ifeanyi Enoch Onuoha

If I can save 25 billion dollars in terms of reduction of import, I will be adding one percent to the GDP. By conserving the oil energy by the people, the GDP will become 5.5 percent, and this will change the economy of the country. — Veerappa Moily

It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization. — Charlie Munger

The United States invests just 2.4 percent of GDP in infrastructure; whereas, Europe invests twice that amount. — Bernie Sanders

The supposition that there is massive waste to be cut in the civilian budget is simply a myth. To recapitulate: ending all earmarks and foreign aid and achieving all of the specific cuts on civilian programs proposed by the deficit commission, even if such choices were meritorious, would amount to less than 1 percent of GDP. True — Jeffrey D. Sachs

The GDP rises whenever money changes hands ... The whole thing is reminiscent of Edward Abbey's reflection that growth for the sake of growth is the philosophy of the cancer cell. — John Robbins

The question is: How do we reduce spending from 25% of GDP, which is where Obama put us? The focus is on total government spending. Can we bring it down, in a reasonable and politically acceptable way? That's what the Paul Ryan plan does. It puts us on a gradual reform path to reducing the size of government. — Grover Norquist