Gross Domestic Product (GDP) and Gross National Product (GNP)

Antonio Argandona

No D/1153, IESE Research Papers from IESE Business School

Abstract: This work is an entry for the second edition of Sage's Encyclopedia of Business Ethics and Society. It provides an explanation of the concepts of gross domestic product and gross national product, their economic significance and their ethical implications. Although both GDP and GNP are technical quantities, they have considerable ethical significance because they refer to the population's standard of living and to growth policy objectives. In any case, it is important not to confuse GDP with human well-being or welfare. The limitations of GDP and the alternatives that have been proposed to overcome them are discussed.

Keywords: Gross domestic product; Gross national product; National accounts; Ethics (search for similar items in EconPapers)
Pages: 6 pages
Date: 2016-10-06
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Persistent link: https://EconPapers.repec.org/RePEc:ebg:iesewp:d-1153

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