Question

In a speech that Senator Robert Kennedy gave when he was running for president in 1968, he

said the following about GDP:

[It] does not allow for the health of our children, the quality of their education, or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public

officials. It measures neither our courage, nor our wisdom, nor our devotion to our country. It measures everything, in short, except that which makes life worthwhile, and it can tell us everything about America except why we are proud that we are

Americans. Was Robert Kennedy, right? If so, why do we care about GDP?

Answer 1

Seneator Robrrt Kennedy says that the GDP (gross domestic product) is an imperfect measure of economic perfomance or the wellbeing of a society. Infact the gross domestic product is an effective measure of economic wellbeing for most times but not all purposes.

The senator says the following things about the imperfections in GDP. They are

• GDP doesnot measure health and education of children.
• GDP doenot include the beauty of poetry, intelligence in public debate
• It doesn't measure the wisdom, courage, devotion etc.

But the fact is that the GDP is helps us to lead a good life.

• Nations with higher GDP can be able to provide good health vare facilities for their children.
• The higher GDP Will can afford better educational systems and the children will be able to acquire knowledge. The better education will helps them to get higher paid jobs and there by increase the standard of living.
• The Nations with higher GDP rate can teach their most of citizens to make able to enjoy the poetry and make them more literate and they will be able to read.
• The courage, devotion, intelligence cannot be measured but these attributes can be easily foster when the citizens are less concerned about the necessities of life.
• It means that the GDP will noy be able to directly measure such thing that makes life worthwhile but increases the ability of a person inorder to attain a worth while life.

GDP is not a perfect measure of economic well being but the nations with higher GDP rate will be able to lead prosper life. Those nations have higher life expectancy, higher literacy rate, higher levels of education, better health care facilities and overall economic development.