Meet the new GDP prototype that tracks inequality

Enlarge this image Pixabay

In the early 1930s, the US Senate enlisted a young economist named Simon Kuznets to figure out how badly the economy had been ravaged by the Great Depression, and whether policies were doing much to fix it. Back then, the government did not monitor the economy in a rigorous way. In fact, for a long time, the very concept of a single, nationwide entity known as “the economy” was alien to people, at least in the modern sense (for more on this, stay tuned for a Planet

→ Continue reading at NPR - Technology

More from author

Related posts

Advertisment

Latest posts

GM pauses sales of Chevy Blazer EV over software issues | CNN Business

New York CNN  —  GM has paused sales of its brand new Chevy Blazer EVs after some customers reported...

Crypto’s 2023 was marred by fraud and scandal. It was its best year ever | CNN Business

New York CNN  —  Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling....

The Tantalizing Mystery of the Solar System’s Hidden Oceans

The original version of this story appeared in Quanta Magazine.For most of humankind’s existence, Earth was the only known ocean-draped world, seemingly unlike any...