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Hooray for GDP!

Author

Listed:
  • Nicholas Oulton

Abstract

The idea of having GDP growth as the main target of economic policy has been under attack in recent years. The article answers some of the criticisms and argues that continued GDP growth would be good for the UK - and not just in the short term to reduce high levels of unemployment.

Suggested Citation

  • Nicholas Oulton, 2012. "Hooray for GDP!," CentrePiece - The magazine for economic performance 383, Centre for Economic Performance, LSE.
    • Handle: RePEc:cep:cepcnp:383
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    File URL: https://cep.lse.ac.uk/pubs/download/cp383.pdf
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    Citations

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    Cited by:

    1. Nicholas Oulton, 2022. "The Productivity-Welfare Linkage: A Decomposition," Discussion Papers 2205, Centre for Macroeconomics (CFM).
    2. Hardy, Daniel C. L., 2023. "Welfare, Autonomy, and Relative GDP," Department of Economics Working Paper Series 330, WU Vienna University of Economics and Business.
    3. Prados de la Escosura, Leandro, 2023. "Health, income, and the preston curve: A long view," Economics & Human Biology, Elsevier, vol. 48(C).
    4. Daniel C. L. Hardy, 2023. "Welfare, Autonomy, and Relative GDP," Department of Economics Working Papers wuwp330, Vienna University of Economics and Business, Department of Economics.
    5. Samuel Erasmus ALNAA & Juabin MATEY, 2024. "Assessing the Effects of Macroeconomic Variables on Economic Welfare in Ghana," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 9(1), pages 138-157, February.
    6. Leandro Prados de la Escosura, 2021. "Augmented human development in the age of globalization," Economic History Review, Economic History Society, vol. 74(4), pages 946-975, November.
    7. Satoshi Araki, 2022. "Does Education Make People Happy? Spotlighting the Overlooked Societal Condition," Journal of Happiness Studies, Springer, vol. 23(2), pages 587-629, February.
    8. Leandro Prados de la Escosura, 2015. "World Human Development: 1870–2007," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 61(2), pages 220-247, June.

    More about this item

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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