The World's Most Powerful Formula and Why it Must Now Change

Ehsan Masood
AUD $22.99

A highly topical look at the formula that dominates economics, and why it has outlived its usefulness.

Gross Domestic Product (GDP) is the world's economic health-check, an influential ranking of global prosperity. A rising number is manna for markets and keeps business buzzing; a falling one is a portent of doom for everyone.

But, as science writer Ehsan Masood deftly shows, GDP can be unforgiving for those countries that cannot be - or choose not to be - measured by its rules. And it fails to measure much of what is really important to our lives.

GDP was created to help Western economies rebuild after the horrors of the Great Depression and to rise again from the fires of the Second World War. But it simultaneously rewarded decades of environmental destruction, and now, amid an unprecedented economic crisis, it faces a fight for its survival.

What began as a useful formula to assess a country's path to prosperity, has trapped societies and leaders into a system of measurement from which the world has to break free. We must, and this book shows how we can.

Author bio:

Ehsan Masood is a senior editor at the science journal Nature. He is a former Knight Science Journalism Fellow at MIT and has written and presented documentary programmes for BBC Radio 4. His previous books include Science and Islam: A History (Icon, 2017).

Category: Economics
ISBN: 9781785787119
Publisher: Icon Books
Imprint: Icon
Pub Date: June 2021
Page Extent: 304
Format: Paperback - B format
Subject: Economic theory & philosophy