Robert Kennedy's Critique of GDP
During his US presidential campaign, Senator Robert Kennedy delivered a famous speech on March 18, 1968, where he challenged the idea of using 'the mere accumulation of material things' as the main indicator of a country's well-being. He pointed out that while GDP includes societal detriments like air pollution, cigarette advertising, and prisons, it omits positive, non-market values like health, education, and national devotion. Kennedy famously argued that GDP measures everything 'except that which makes life worthwhile,' thus highlighting its significant shortcomings as a measure of living standards. The complete speech is available to be read in full or listened to as a sound recording.
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Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Ch.1 Prosperity, inequality, and planetary limits - The Economy 2.0 Microeconomics @ CORE Econ
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