Here population nearly doubled in 10 years, and home prices tripled and urban planning circles hailed the boom as the new America at the far exurban fringe. But others saw it as the residential embodiment of the Edward Abbey line that "growth for the sake of growth is the ideology of the cancer cell. Owners of 1 in 10 mortgages owe more than their houses are worth, and many just walk away. Without vested owners, vandalism runs rampant and the place becomes a slum.
Advances in understanding, theory and measurement must necessarily proceed hand in hand. A companion article in this publication sets forth the urgent need for new theory in economics. This article sets forth the complementary need for new measures.
The stakes are high and the choice is ours. The challenge is to derive more appropriate indicators to reflect real, sustainable economic welfare, social development and human wellbeing.
The attributes that have made GDP so successful are often overlooked — it provides clear objectives for policy and decision-making. The index is applied to assess the economic performance of select countries from Tools and Measures Human beings are distinguished from other life forms by their unique ability to fashion tools which extend our powers of consciousness beyond the reach of our senses and our powers of execution beyond the limits of strength, endurance, space and time imposed by our physical bodies.
Tools are an instrument for social evolution. Language is a tool which enables us to formulate original ideas, communicate our inmost thoughts and feelings, record events for posterity, transmit knowledge down through the ages, and exchange ideas over vast expanses of time and space.
The efficiency of our tools is an index of our social development. Measurement is another remarkable human ability. Modern medicine could not exist without the thermometer, stethoscope, sphygmomanometer and glucometer, along with measures for blood cell count, hemoglobin, cholesterol, and countless other metrics.
Today every food ingredient is carefully measured for its exact nutritional content.
It is both a tool and a measure. But unlike other measures that are confined to measuring a single dimension or quality, money has the capacity of assigning value to almost anything material or immaterial — physical objects, human labor, social status, information, obedience, loyalty and sometimes even love.
Coinage enabled ancient kingdoms to become military and economic powers, because it facilitated standardized valuation of products and services for the financing and maintenance of huge armies. The concept of zero was unknown to the Greeks and Romans.
Developed independently in India and Mexico, it reached Europe via Arabia only in the 10th century. One need only try adding and multiplying Roman numerals to realize how greatly the introduction of Hindu-Arabic numerals, the zero, and the decimal place enhanced the capacity for accounting and the growth of trade.
Combined with double-entry bookkeeping, they spurred the commercial revolution in 13th century Italy, facilitating the precise calculation of capital and profit.
|Our American Pravda, by Ron Unz - The Unz Review||A photo showed the two individuals who negotiated that agreement. Britain was represented by John Maynard Keynes, a towering economic figure of that era.|
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The Domesday Book is a record of the first known numerical census conducted by William I of England in to identify arable lands, livestock, fisheries and other sources of national wealth as a basis for improved tax collection.
The first US census was conducted in Today economics employs a wide range of indispensable measuring tools, including GDP, the consumer price index, interest rate, money supply, exchange rate and the unemployment rate. While the general public may regard these tools as accurate measures of economic reality, economists recognize that they are in fact only rough, approximate indicators designed to reflect economic reality rather than accurately measure it.
Right measurement is a powerful instrument for social progress, which is why efforts are constantly being made to improve their power and precision.In Spite of the Gods: The Rise of Modern India [Edward Luce] on plombier-nemours.com *FREE* shipping on qualifying offers.
As the world's largest democracy and a rising international economic power, India. plombier-nemours.com: News analysis, commentary, and research for business technology professionals. Get the latest international news and world events from Asia, Europe, the Middle East, and more.
See world news photos and videos at plombier-nemours.com China and India are the two most populous countries of the world. China is the most populous country with approximately billion people in India is second largest country by population with approximately billion inhabitants in Similar, but different Comparing and contrasting India and China in terms of their size, past growth, political stability, bureaucratic barriers, and economic freedom has become commonplace.
Similar to US being a melting pot for different types of people from different countries, Western culture is also considered as a melting pot of various cultures of different people from different countries.