GDP is not an accurate measure of meaningful or real economic growth.

[Confuseous]

The World Economic Forum has observed : “The real economy – including all things that support human well-being – is much larger than the market economy estimated by GDP. GDP was never designed as a measure of overall societal well-being and its continued misuse for that purpose needs to stop.” GDP is not an accurate measure of meaningful or real economic growth.

However, even as Singapore got more and more crowded, the government still religiously followed the formula of boosting the GDP figures as we did when we were a developing country, even though this model of growth is far less suited to the developed country we have become.

Our government does not have the luxury of blaming this migrant worker overcrowding issue on a previous government. The Peoples’ Action Party (PAP) led government is the only government we have ever had since independence. So, have they displayed foresight? Have they been proactive? Or, has their continuity simply been a series of reactionary measures?

https://www.onlinecitizenasia.com/2...mic-solutions-and-refusal-to-think-long-term/

 

[nightsafari]

er... how did leadership get to lead the country? Highest marks in exams.

Do they know what's important in life except scoring highest marks? With this kind of mindset how not to come to conclusion GDP is the only measure of an economy when marks are the only measure of a man?

 

[syed putra]

You don't see people in monaco or Lichtenstein rushing about.

 

[steffychun]

The World Economic Forum has observed : “The real economy – including all things that support human well-being – is much larger than the market economy estimated by GDP. GDP was never designed as a measure of overall societal well-being and its continued misuse for that purpose needs to stop.” GDP is not an accurate measure of meaningful or real economic growth.

However, even as Singapore got more and more crowded, the government still religiously followed the formula of boosting the GDP figures as we did when we were a developing country, even though this model of growth is far less suited to the developed country we have become.

Our government does not have the luxury of blaming this migrant worker overcrowding issue on a previous government. The Peoples’ Action Party (PAP) led government is the only government we have ever had since independence. So, have they displayed foresight? Have they been proactive? Or, has their continuity simply been a series of reactionary measures?

https://www.onlinecitizenasia.com/2...mic-solutions-and-refusal-to-think-long-term/

But PAP has used GDP as a measurement of their success...sorry loss.

 

[birdie69]

The World Economic Forum has observed : “The real economy – including all things that support human well-being – is much larger than the market economy estimated by GDP. GDP was never designed as a measure of overall societal well-being and its continued misuse for that purpose needs to stop.” GDP is not an accurate measure of meaningful or real economic growth.

However, even as Singapore got more and more crowded, the government still religiously followed the formula of boosting the GDP figures as we did when we were a developing country, even though this model of growth is far less suited to the developed country we have become.

Our government does not have the luxury of blaming this migrant worker overcrowding issue on a previous government. The Peoples’ Action Party (PAP) led government is the only government we have ever had since independence. So, have they displayed foresight? Have they been proactive? Or, has their continuity simply been a series of reactionary measures?

https://www.onlinecitizenasia.com/2...mic-solutions-and-refusal-to-think-long-term/

But PAP has used GDP as a measurement of their success...sorry loss.

it is part of the KPI to workout their pay and bonuses

 

[steffychun]

it is part of the KPI to workout their pay and bonuses

And parachuting of minsters and fake military leaders.

 

[knnb40]

30-year ago, we need GDP to show to the world so that we can be recognized internationally and our Singapore dollar value to grow.
today the 4G and 5G leader still go alone this road.
when we have world class port, air-port, IT infrastructure, but why we don't have product and solution ? for example the recent NPark robot dog, both hardware and software is purchased and we are just operating it.

 

[Confuseous]

30-year ago, we need GDP to show to the world so that we can be recognized internationally and our Singapore dollar value to grow.
today the 4G and 5G leader still go alone this road.
when we have world class port, air-port, IT infrastructure, but why we don't have product and solution ? for example the recent NPark robot dog, both hardware and software is purchased and we are just operating it.

The 3 and 4G leaders use the GDP as a performance indicator for their bonus. It's easy to understand (for them)
and easy to implement. Just keep churning. Reducing equality is irrelevant to them.