Professor Dirk Philipsen of Duke University, author of The Little Big Number: How GDP came to rule the world and what to do about it, discusses how GDP became a universally used indicator of economic performance.
• What is the “GDP,” and what is its significance to the economy?
• How efficient is GDP as a measure of economic growth?
• Is there a better, more objective tool for assessing prosperity?
Follow Professor Philipsen’s work on: http://www.dirkphilipsen.com/