The concepts and measurements of gdp

Knowledge independent elements of the optimization of self-instruction Before I move toward representation of knowledge, I would only shortly like to list some other principles of effective learning that are representation independent: In the process of learning, the coherent graph of semantic links between elements of the learned material is formed. This graph can be constructed by means of item-by-item build up; however, a standard textbook, hypertext document or interactive tutor will always have an efficacy advantage because of no implied granularity constraint. In other words, one should always learn first, and only then work with a repetition spacing system in order to retain the newly formed memory engrams over a longer period of time.

The concepts and measurements of gdp

Advances in understanding, theory and measurement must necessarily proceed hand in hand. A companion article in this publication sets forth the urgent need for new theory in economics.

This article sets forth the complementary need for new measures. The stakes are high and the choice is ours. The challenge is to derive more appropriate indicators to reflect real, sustainable economic welfare, social development and human wellbeing.

The attributes that have made GDP so successful are often overlooked — it provides clear objectives for policy and decision-making. The index is applied to assess the economic performance of select countries from Tools and Measures Human beings are distinguished from other life forms by their unique ability to fashion tools which extend our powers of consciousness beyond the reach of our senses and our powers of execution beyond the limits of strength, endurance, space and time imposed by our physical bodies.

Tools are an instrument for social evolution. Language is a tool which enables us to formulate original ideas, communicate our inmost thoughts and feelings, record events for posterity, transmit knowledge down through the ages, and exchange ideas over vast expanses of time and space.

The efficiency of our tools is an index of our social development. Measurement is another remarkable human ability. Modern medicine could not exist without the thermometer, stethoscope, sphygmomanometer and glucometer, along with measures for blood cell count, hemoglobin, cholesterol, and countless other metrics.

Today every food ingredient is carefully measured for its exact nutritional content.

The concepts and measurements of gdp

It is both a tool and a measure. But unlike other measures that are confined to measuring a single dimension or quality, money has the capacity of assigning value to almost anything material or immaterial — physical objects, human labor, social status, information, obedience, loyalty and sometimes even love.

Coinage enabled ancient kingdoms to become military and economic powers, because it facilitated standardized valuation of products and services for the financing and maintenance of huge armies. The concept of zero was unknown to the Greeks and Romans. Developed independently in India and Mexico, it reached Europe via Arabia only in the 10th century.

One need only try adding and multiplying Roman numerals to realize how greatly the introduction of Hindu-Arabic numerals, the zero, and the decimal place enhanced the capacity for accounting and the growth of trade. Combined with double-entry bookkeeping, they spurred the commercial revolution in 13th century Italy, facilitating the precise calculation of capital and profit.

The Domesday Book is a record of the first known numerical census conducted by William I of England in to identify arable lands, livestock, fisheries and other sources of national wealth as a basis for improved tax collection.

The first US census was conducted in Today economics employs a wide range of indispensable measuring tools, including GDP, the consumer price index, interest rate, money supply, exchange rate and the unemployment rate.

While the general public may regard these tools as accurate measures of economic reality, economists recognize that they are in fact only rough, approximate indicators designed to reflect economic reality rather than accurately measure it.

Right measurement is a powerful instrument for social progress, which is why efforts are constantly being made to improve their power and precision.

The atomic clock has replaced the sundial, hourglass and pendulum.

Indicators of Economic Progress: The Power of Measurement and Human Welfare

DNA fingerprinting has largely replaced hand fingerprinting as a precise means for identifying human beings. Global satellite navigation has made the chronometer obsolete. The 20th century has been aptly described as The First Measured Century in recognition of the enormous recent strides in harnessing the power of measurement.

Today humanity pursues a common quest for higher standards of living, greater economic security, sustainable development, higher levels of welfare and well-being.

For decades, the very intensity of the pursuit for a better life obscured the inadequacy of our conceptions and our instruments for achieving it.

But in recent decades we are compelled by social, economic and environmental challenges to seek more precise definitions of what we mean by these terms and more exact tools for measuring our progress toward achieving them.

Social and economic measures are inseparable from political objectives and public policy.

The concepts and measurements of gdp

It is not merely scientific precision that we are after, but more powerful instruments for achieving human objectives. Wrong or imprecise measures are a source of hazard and even havoc.

They can result in wrong policy with disastrous consequences. As John Kenneth Galbraith observed in his book The Great Crashthe lack of reliable measures combined with faulty theoretical knowledge led to actions that worsened rather than mitigated the crisis.

Galbraith cites poor economic intelligence among five principal causes for the Great Depression. Wrong measures can undermine good theory and practice.The thesis of the book is: the countries all over the world concentrate on raising the GDP while neglecting other targets relevant for human welfare and the environment.

Operating Mines

ABSTRACT. This paper presents the result of a comprehensive analysis of the main forms of development measurement. Recognizing the level of complexity that the subject involves, aspects related to interpretations and dominant ideologies in development/growth concepts are shown second part of this work constitutes a critical analysis of forty-three of the most well-known national.

ABSTRACT. This paper presents the result of a comprehensive analysis of the main forms of development measurement. Recognizing the level of complexity that the subject involves, aspects related to interpretations and dominant ideologies in development/growth concepts are shown second part of this work .

This text was taken from iridis-photo-restoration.comk, Economics of learning, Doctoral Dissertation (), and adapted for publishing as an independent article on the Web (iridis-photo-restoration.comk, Apr 23, ).For an equivalent text written in popular-scientific language see: 20 rules of formulating knowledge for learning.

The United States of America (commonly referred to as the United States, the U.S., the USA, or America) is a federal constitutional republic comprising fifty states and a federal country is situated mostly in central North America, where its forty-eight contiguous states and Washington, D.C., the capital district, lie between the Pacific and Atlantic Oceans, bordered by Canada to.

Get Full Text in PDF. Table of Contents. Introduction; Tools and Measures; Measures of National Income; Need for New Theory; Measures and Indicators; Characteristics of a Successful Indicator.

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