Real GDP per capita to measure SOL

Thesis
1. ↑ Real GDP per capita, ↑ Y, ↑ PP
  1. ↑ cons of G&S, ↑ mat SOL
  2. ↑ cons of HC, Edu, etc, ↑ non-mat SOL
2. factors in...
  1. Inflation
    1. Remove effects of Px changes
      1. ↑ Real GDP per capita, amt of o/p & PP is ↑ing
  2. Pop size
    1. shows avg Y
      1. c/f b/w countries
        eg:
  3. Demographic changes
    1. shows changes in avg Y
      1. c/f b/w past & present
        eg:
Anti Thesis
1. does not factor in...
  1. Non-mat aspects
    1. eg: Pollution levels, Leisure time
      1. ↑ Real GDP per capita due to ↑ EG
        EG may be due to longer working hrs/ create pollution
        ↓ health / ↑ stress
        ↓ non-mat SOL
  2. Y inequality
    1. eg: Y very unevenly distributed
      1. Even with ↑ real GDP per capita
        Majority not experiencing ↑ real Y & mat SOL
  3. Differences in costs of living
    1. eg:
      1. SG's real GDP per capita > that of China
        But costs of living in China < that of SG
        Need PPP e/r
  4. Composition of o/p
    1. Military vs K vs consumer gds
      1. Production ≠ Consumption
        ↑ Real GDP per capita due to gov military expenditure
        ↑ Real GDP per capita due to prod of K gds
        Current mat SOL may not ↑
  5. Unrecorded o/p
    1. Non-marketed DIY activities
      1. eg: Subsistence farming
        No mkt Px & qty, estimating mkt values v difficult
    2. Underground economy
      1. Illegal activities
        eg: Drug trafficking, Prostitution
      2. Legal activities
        Mostly 'moonlighting' activities
        Not declared to avoid taxes
  6. G&S produced OUTSIDE cty from resources belonging to RESIDENTS
    1. Dom firms earning Y from DIA
      1. Avg Y actually higher
  7. G&S produced INSIDE cty from resources belonging to FOREIGNERS
    1. Y outflows from FDI
      1. Avg Y actually lower
        Need real GNP per capita

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Real GDP per capita to measure SOL

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	Criado por 17Y6C32 KOH HUI WEN mais de 6 anos atrás