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The Little Big Number Dirk Philipsen

The Little Big Number By Dirk Philipsen

The Little Big Number by Dirk Philipsen


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Summary

In one lifetime, GDP, or Gross Domestic Product, has ballooned from a narrow economic tool into a global article of faith. As The Little Big Number demonstrates, this spells trouble. While economies and cultures measure their performance by it, GDP only measures output. It ignores central facts such as quality, costs, or purpose. Sustainability and

The Little Big Number Summary

The Little Big Number: How GDP Came to Rule the World and What to Do about It by Dirk Philipsen

In one lifetime, GDP, or Gross Domestic Product, has ballooned from a narrow economic tool into a global article of faith. As The Little Big Number demonstrates, this spells trouble. While economies and cultures measure their performance by it, GDP only measures output. It ignores central facts such as quality, costs, or purpose. Sustainability and quality of life are overlooked. Losses don't count. The world can no longer afford GDP rule--GDP ignores real development. Dirk Philipsen demonstrates how the history of GDP reveals unique opportunities to fashion smarter goals and measures. The Little Big Number explores a possible roadmap for a future that advances quality of life rather than indiscriminate growth.

The Little Big Number Reviews

[Philipsen] is not the first to question the utility of GDP estimates, but he may be the most exasperated. His comprehensive history... compares GDP to any number of villains in order to make tangible the number's many flaws... He is keyed into how a culture that once burgeoned can implode, and he is anxious about ours.--Katy Lederer, New Yorker Comprehensive and readable... Philipsen is motivated by a profound dissatisfaction with the dominance of growth in the national economic agenda, and with the way in which GDP... has become a goal rather than simply a measuring tool... [I]n the end the policies he advocates may indeed prevail, and our fixation on growth in GDP as the sole indicator of human happiness may at last be laid to rest.--David Throsby, Times Literary Supplement [The Little Big Number] takes the anti-GDP case even further... Philipsen argues that not only is GDP a flawed statistic in need of replacing--but the whole notion of open-ended economic growth needs to go, too.--Kevin Hartnett, Boston Globe Some efforts are already underway, most notably the 'Beyond GDP' initiative by the European Commission, but much remains to be done. Philipsen's book is a clarion call.--Seeking Alpha [Philipsen's] call for a dialogue about setting new goals--sustainability, equity, democratic accountability, and economic viability--should command our attention... It won't be easy. But Philipsen is surely right that no task is more important.--Glenn C. Altschuler, Huffington Post Dirk Philipsen's The Little Big Number, couldn't have come at a better time.--Douglas Beal, Huffington Post [A] provocative and insightful book... The book stands on its own as a piece of economic history, but also serves as an important call for social change.--Alex Mitchell, Consumption Markets & Culture This book nicely summarizes the many critiques of GDP. Philipsen's knowledge of economic theory, statistics, econometric accounting, and history is impressive.--Stephen Macekura, American Historical Review Its cautionary story of the creation of GNP accounting is eye-opening, and well told. The list of ways that GDP could be improved, even as a measure of production ... all provoke thought. The book easily could be used as a directory of research criticizing GDP.--Donald Frey, EH.Net

About Dirk Philipsen

Dirk Philipsen is a German- and American-trained professor of economic history at the Sanford School of Public Policy and a senior fellow at the Kenan Institute for Ethics, both at Duke University.

Table of Contents

Acknowledgments vii Introduction: We Become What We Measure 1 Casting a Spell 9 Exploring a Path 13 1. More, Better, Faster: The Beginnings 19 Productivity, Growth, and Success 20 Goals and Measures 27 Values and Measures 32 2. The Origins of Bling: The Spirit of Economic Growth 40 The World of Growth: Refining the Measure 52 Business Accounting Goes National 57 3. The Crucible of Crisis: The Great Depression and the Need for Economic Indicators 65 4. Born from Disaster: The Making of a Key Measure 83 The Challenge 84 The Players 89 The Method 93 The Findings 99 The Big Conundrum: Translating Findings into Action 102 5. Forged in War 107 6. Global Domination: The Age of GDP 117 For Richer or Poorer 117 A Stunted Priesthood 121 Stopgap Consensus 123 Going Global 128 New Rules 130 GDP Junkies 133 Shackled in Fool's Gold 139 7. Today's ABC of GDP 143 It's an Emperor, but Does It Have Clothes? 152 Why It Matters 157 8. More Is Not Enough 160 The Little Big Number: Our Report Card for Success 174 Emerging Dissent 178 9. The People of Plenty Are a People of Waste 184 Breaking the Spell 204 10. From Alchemy to Reason: What If? A Thought Experiment 208 Mental Cobwebs 219 One More Time: Simon Kuznets 230 Clearing a Path 236 11. Looking Forward 243 A Daring Vision 250 A Moment of Possibility 265 Appendix A. The Measure as Guide 271 Notes 277 Bibliography 351 Index 389

Additional information

GOR008749510
9780691166520
0691166528
The Little Big Number: How GDP Came to Rule the World and What to Do about It by Dirk Philipsen
Used - Very Good
Hardback
Princeton University Press
20150526
416
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us

Customer Reviews - The Little Big Number