Economics Quote by Barry Gardiner
“GDP has been a con perpetrated upon the poor of the world: a measure of economic activity and not of actual wealth. What it masks is the way in which we transform their natural capital into our consumption through international rules that regard the ecosystem services upon which they rely as mere externalities.”
About This Quote
Source Interview: Economic policy discussion, BBC Radio 4, 2019
GDP measures activity, not wealth, ignoring environmental costs and inequality, thus misleading about true prosperity.
In simple terms: GDP ignores wealth and environmental impact.
Key Takeaway
Consider broader metrics beyond GDP.
Themes
economics
environment
inequality
policy
measurement
Mood
critical
concerned
Type
analytical
advocacy
When to use this quote
- Policy debates
- academic research
- NGO advocacy
- government budgeting
Key Concepts
Sustainable development
wealth accounting
environmental economics
Questions to Reflect On
- How can we integrate natural capital into national accounts?
- What barriers exist to redefining prosperity?
A Different Perspective
Alternative measures can be politically contentious.
