It would be better to redefine the components of GDP. Weightage of the components of GDP should be decided on the basis of importance and contribution of the product in improving quality of human life. Market value of any product in general are distorted value based on many marketing gimmick and strategy. This will largely solve the problem of distribution of wealth, poverty, pollution and quality of human life. Economic growth in its current form will not be able to solve the problem of humanity and it is in more skewed towards capitalist rather than working class.
Posted on: Sat, 27 Sep 2014 18:21:15 +0000
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