Hidden Economic Indicators
A country’s Gross National Product is often presented as a measure of the economic well-being of its citizens. But how economists calculate GNP is not clearly understood by most people. Current methods of calculation measure only the cash-generating capacity of an economy, not its productive capacity. This equation not only misrepresents the economic well-being of the populace, but also ignores such salient factors as the environment, sustainability and the enormous contributions of women.
Development consultant Marilyn Waring was the youngest woman in 1975 to have been elected to serve in New Zealand’s Parliament. She holds a Ph.D. in Political Economy and is the author of several books on the international economic system.