In 1968, Senator Robert Kennedy was running for president and he gave a moving critique on the economic measures that were taking place at that time and applies to today.

" Gross Domestic Product 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 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."

I thought it was really interesting that he spoke about GDP in this way, but what the author said keeps us all in check, even politicians.

The author writes :

Much of what Robert Kennedy says is correct. Why then do we care about GDP?

The answer is that a large GDP does in fact help us to lead a good life.

GDP does not measure the health of our children, but nations with

larger GDP can afford better health care for their children.

GDP does not measure the quality of their education,

but nations with larger GDP can afford better educational systems.

GDP does not measure the beauty of our poetry,

but nations with a larger GDP can afford to teach more of their

citizens to read and to enjoy poetry.

GDP does not take account of

our intelligence,integrity,courage,wisdom,or devotion to country,

but all of these laudable attributes are easier to foster

when people are less concerned about being able to

afford the material necessities of life.

GDP does not directly measure those things that make life worthwhile,

but it does measure our ability to obtain the inputs into a worthwhile life.

-N. Gregory Mankiw

So what do you guys think?