26. The Health of Nations

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🗓️ 16 March 2011

⏱️ 23 minutes

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Summary

For decades, GDP has been the yardstick for measuring living standards around the world. Martha Nussbaum would rather use something that actually works.

Transcript

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0:00.0	When economists talk about the standard of living in different countries around the world,
0:06.3	they often use a single yardstick.
0:09.2	GDP.
0:10.2	And since economists use it, they've been using it for decades.
0:13.9	We use it too.
0:15.4	Even if a lot of us don't quite know what it means.
0:18.5	GDP.
0:19.5	Do you know what it means?
0:22.2	GDP.
0:35.4	I honestly have no idea.
0:36.8	I wouldn't be able to speak intelligently about it.
0:39.0	Gradual, something, depth, population?
0:42.0	No, I don't know what it's like.
0:44.2	You never heard of it.
0:45.2	I have no clue what it stands for.
0:47.0	Um, government deposits, something, something.
0:49.2	No, no, does it have anything to do with like economy?
0:53.3	Yes, the gross domestic product.
0:58.3	It's the overall amount of stuff that we produce and its correspondence value.
1:03.1	Yeah.
1:04.1	Okay, good.
1:05.1	Oh, really?
	...

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