Economic Development or Economic Growth??

Economics Economics Questions
1

Which is more important to you???### In my opinion, economic growth is a quantitative method of measuring overall economic activity. But it fails to take in consideration qualitative measures, such as: Quality of Education, Quality of Life, well being and many others.### Thank you for sharing your comments.###

2

it is important for me for that there not to be a government around to have such opinions.

3

No need for govt intervention. Just which one is better to measure the economy in general.

4

well, for arguments sake.

im familiar with traditional methods of measuring ‘economig growth’. devices such as measuring change in GNP or GDP over time, using some method of translating purchase/price parity. what are examples of metrics concerning ‘economic development’ which you allude to in your title?

5

The degree of wealth production (i.e. of a structure geared towards specifically meeting consumer’s preferences.) By definition it includes improvements in the quality of life &c. GDP is not particularly sensitive to this, nor is it intended to be. It’s just a metric of overall economic activity, productive or otherwise.

-Jon

6

Didn’t see that one coming.

Alright everyone, I think we understand that most people on these forums don’t like the government. That doesn’t mean we need to say so in every thread when it’s not relevant to the question.