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In one lifetime, GDP, or Gross Domestic Product, has ballooned from a narrow economic tool into a global article of faith. As The Little Big Number demonstrates, this spells trouble. While economies and cultures measure their performance by it, GDP only measures output. It ignores central facts such as quality, costs, or purpose. Sustainability and quality of life are overlooked. Losses don't count. The world can no longer afford GDP rule—GDP ignores real development. Dirk Philipsen demonstrates how the history of GDP reveals unique opportunities to fashion smarter goals and measures. The Little Big Number explores a possible roadmap for a future that advances quality of life rather than indiscriminate growth.
Acknowledgments vii
Introduction: We Become What We Measure 1
Casting a Spell 9
Exploring a Path 13
1. More, Better, Faster: The Beginnings 19
Productivity, Growth, and Success 20
Goals and Measures 27
Values and Measures 32
2. The Origins of Bling: The Spirit of Economic Growth 40
The World of Growth: Refining the Measure 52
Business Accounting Goes National 57
3. The Crucible of Crisis: The Great Depression and the Need for Economic Indicators 65
4. Born from Disaster: The Making of a Key Measure 83
The Challenge 84
The Players 89
The Method 93
The Findings 99
The Big Conundrum: Translating Findings into Action 102
5. Forged in War 107
6. Global Domination: The Age of GDP 117
For Richer or Poorer 117
A Stunted Priesthood 121
Stopgap Consensus 123
Going Global 128
New Rules 130
GDP Junkies 133
Shackled in Fool's Gold 139
7. Today's ABC of GDP 143
It's an Emperor, but Does It Have Clothes? 152
Why It Matters 157
8. More Is Not Enough 160
The Little Big Number: Our Report Card for Success 174
Emerging Dissent 178
9. "The People of Plenty Are a People of Waste" 184
Breaking the Spell 204
10. From Alchemy to Reason: What If? A Thought Experiment 208
Mental Cobwebs 219
One More Time: Simon Kuznets 230
Clearing a Path 236
11. Looking Forward 243
A Daring Vision 250
A Moment of Possibility 265
Appendix A. The Measure as Guide 271
Notes 277
Bibliography 351
Index 389
Description
In one lifetime, GDP, or Gross Domestic Product, has ballooned from a narrow economic tool into a global article of faith. As The Little Big Number demonstrates, this spells trouble. While economies and cultures measure their performance by it, GDP only measures output. It ignores central facts such as quality, costs, or purpose. Sustainability and quality of life are overlooked. Losses don't count. The world can no longer afford GDP rule—GDP ignores real development. Dirk Philipsen demonstrates how the history of GDP reveals unique opportunities to fashion smarter goals and measures. The Little Big Number explores a possible roadmap for a future that advances quality of life rather than indiscriminate growth.
