Gross Domestic Product

How To Judge Whether An Economy ‘Works’

March 25, 2026 Jim Stanford, Rabble.ca. Educate! Cuba, Economic Blockade, Gross Domestic Product, US Imperialism

Undeterred by the global catastrophe unleashed by its attacks on Iran, the U.S. government announced yet further economic actions against Cuba last week. Since its military intervention in Venezuela, the U.S. has illegally blocked oil shipments from any country to Cuba. That has caused electricity blackouts, blocked tourism (including by the one million Canadians who visit there each year), caused immeasurable economic damage, and now endangers the lives of dialysis patients and others. Now the U.S. is blackmailing other Latin American countries to expel Cuban medical experts who have long worked abroad –where they generate needed foreign earnings for Cuba, as well as supporting health care services in poorer countries.

What GNDI Leaves Out Of Pacific Economies

June 5, 2025 Arnie Saiki, Onibaba. Educate! Australia, Finance and the Economy, Gross Domestic Product, Pacific Islands

The recent presentation of the 2025 Pacific Update at the University of South Pacific hosted by Australia National University on Gross National Disposable Income (GNDI), introduced a revised approach to economic measurement for the Pacific Island Countries (PICs). Delivered by Professor Stephen Howes, in collaboration with Dr. Rubiat Chowdhury, the presentation argued that GNDI is a more accurate measure of income for the region than the widely used Gross Domestic Product (GDP). The failure of GDP as a national accounting metric is evident, and we should all agree that GDP has been a failure for Developing Countries and regions, particularly Pasifika.

US First Quarter GDP: Recovery Or Just Another Rebound?

May 8, 2021 Jack Rasmus, Counterpunch. Educate! Economic crisis, Finance and the Economy, Gross Domestic Product, Pandemic

This past week the US Commerce Department released its early estimates for US GDP for the 1st Quarter 2021, January through March. If we are to believe the numbers, the US economy grew a respectable 6.4% during the period. But did it really? And does it represent a strong recovery underway? Or just a rebound, as the economy reopens in the services sector; and once the reopening concludes, will the economy flatten out again—as it did with last summer’s 2020 partial reopening that collapsed in late 2020? The first thing for readers to understand is the 6.4% is not really 6.4% for the first three months of 2021. The US is one of the few countries that reports its GDP figures in an ‘Annual Rate’ (AR) percentage. Most other advanced economies do not.

Green Growth Vs Degrowth

April 26, 2021 Beth Stratford, Open Democracy. Create! Capitalism, climate crisis, Degrowth, Gross Domestic Product

The row about ecological limits to growth is back with a vengeance. On one side are those who are deeply sceptical about the idea of ‘infinite growth on a finite planet’. They argue that to be sure of offering a good life for all within planetary boundaries, we need to kick our addiction to consumption growth (in wealthy countries at least). These ‘green growth sceptics’ include those advocating for ‘degrowth’, ‘prosperity without growth’, ‘steady state economics’, ‘doughnut economics’ and ‘wellbeing economics’. In the opposite corner are ‘green growth’ advocates who believe that the historical relationship between GDP and environmental impact can be not just weakened but effectively severed. For green growthers, the key to maintaining a habitable planet is decoupling — reducing the environmental impact associated with each pound or dollar of GDP.

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