Quotes & Sayings About Gdp Growth

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 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

India needs to be liberated both from the 'high GDP growth hedgehogs' and the 'conservation at all costs hedgehogs.' — Jairam Ramesh

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

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

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

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

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

Growth can also involve producing services instead of goods. In particular, a major expansion of public and caring services (like child care, education, elder care, and other life-affirming programs) would generate huge increases in GDP and incomes, with virtually no impact on the environment. — Jim Stanford

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

capita in the Republic of Korea was 121.8%. For Taiwan, that figure was 88.0%. In Hong Kong, real GDP growth per capita in that period leaped 64.2%, while in Singapore it was 77.5%. Growth in real earnings has been even more impressive, — Callum Henderson

I want to tell mayors, county chiefs and heads of big companies: don't just chase GDP growth; don't chase the biggest profits at the expense of our children and grandchildren and at the cost of sacrificing our ecological environment. — Chen Guangbiao

On the other hand, there are a number of cases where economic growth did not produce better governance, but where, to the contrary, it was good governance that was responsible for growth. Consider South Korea and Nigeria. In 1954, following the Korean War, South Korea's per capita GDP was lower than that of Nigeria, which was to win its independence from Britain in 1960. Over the following fifty years, Nigeria took in more than $300 billion in oil revenues, and yet its per capita income declined in the years between 1975 and 1995. In contrast, South Korea grew at rates ranging from 7 to 9 percent per year over this same period, to the point that it became the world's twelfth-largest economy by the time of the Asian financial crisis in 1997. The reason for this difference in performance is almost entirely attributable to the far superior government that presided over South Korea compared to Nigeria. — Francis Fukuyama

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

Our GDP growth rates are creating - our high GDP growth rates, the success of our economy means we're creating lots of disposable income. — John W. Snow

Piketty would impose a progressive annual tax on capital. By a static analysis, such a tax might reduce the yield of capital to the rate of GDP expansion and thus eliminate the bias toward top-heavy accumulation by elites. Upholding the secular stagnation theory of permanent growth slowdown, he naturally focuses on depressing the return to capital. Taking money from the rich and giving it to government might seem to address "inequality." But by putting capital into the hands of the least productive users of it - politicians - he would aggravate the very stagnation he warns against. — George Gilder

To put it in context, the federal government was, at the beginning [of the Vancouver meeting], talking about a $15-per-tonne floor for carbon emissions. We're at $30 a tonne, so we're already double that. But our economy is growing at a faster rate - three per cent of GDP is our projected growth in British Columbia. — Christy Clark

While our energy efficiency is improving, there is a very high correlation, almost near perfect correlation, between GDP growth, and energy usage. — Malcolm Turnbull

the connection between GDP growth and jobs is a myth. — Arundhati Roy

A lot of our fiscal deficit went to fund consumption and really did not get used to build investment and infrastructure. The trouble is, you can get a spurt in GDP growth, which may not be sustainable. I would much rather build the gradient of a long-term marathon. — Uday Kotak

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

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

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

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

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

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

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

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

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

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

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

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

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