A major deficiency of the growth-obsessed model driving global neoliberal economic policy is its lack of understanding on the Earth System on which it—and…
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The concept of GDP emerged from the devastation of the Great Depression and World War 2. Nobel-winning economist Simon Kuznets envisioned capturing all economic production by individuals, companies and the government in a single measure that would rise in prosperous times and sink in difficult ones. In his 1934 report, National Income, 1929-32 (bit.ly/45ol5cw) to the US Congress, he presented the original formulation of GDP.