Question
Consider the following extract and answer the question that follows. Without ever having to acknowledge how nature has contributed to economic growth, GDP has promoted
Consider the following extract and answer the question that follows. "Without ever having to acknowledge how nature has contributed to economic growth, GDP has promoted unsustainable practices that have contributed to the climate and biodiversity emergencies. To put it another way, GDP is like a ledger that will not accept red ink. Like an accounting trick, it has allowed us to vent greenhouse gasses into the atmosphere, destroy habitats and neglect human wellbeing without ever having to worry about the consequences." Source: https://scroll.in/article/1012888/as-the-environment-becomes-crucial-for-economies-its-time-to-ditch-gdpfor-a-better-growth-metric Accessed: 11/03/2022 The problem associated with GDP being illustrated here is that of... a) Non-market production b) Economic welfare c) Data revision d) Unrecorded activity
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started