Gross Domestic Product (GDP) is arguably the most well-known statistic in the contemporary world, and certainly amongst the most powerful. It drives government policy and sets priorities in a variety of vital social fields - from schooling to healthcare. Yet for perhaps the first time since it was invented in the 1930s, this popular icon of economic growth has come to be regarded by many as a 'problem'. After all, does our quality of life really improve when our economy grows 2 or 3%? Can we continue to sacrifice the environment to safeguard a vision of the world based on the illusion of infinite economic growth?
In Gross Domestic Problem, Lorenzo Fioramonti takes apart the 'content' of GDP - what it measures, what it doesn't and why - and reveals the powerful political interests that have allowed it to dominate today's economies. He also demonstrates how GDP has little if any relevance to moral principles such as equity, social justice and redistribution, and shows that an alternative is possible, as evinced by the 'de-growth' movement and initiatives such as transition towns. A startling insight into the politics of a number that has come to dominate our everyday lives.
Gross Domestic Problem does not, however, stop at the problem. What is invigorating about this book is that it provides a thorough and up-to-date picture of the various initiatives that have emerged to demote the role of GDP - from high profile initiatives lead by international organisations such as the OECD, to alternative local currencies in the streets of south London and the mountains of south Germany.
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