IT IS NOT IMPORTANT HOW MUCH YOU PRODUCE BUT WHAT KIND OF ACTIVITY YOU DEAL WITH . ETHICS IS MORE IMPORTANT THAN GDP ECONOMICS.

Every TV anchor and every economic/business writer swears in the name of GDP. Everyone shouts as best as he/she can about how important it is to raise the rate of growth. I bet how many of them even know how GDP is calculated. Since the media shrieks about it 24x7 politicians also start parroting it. In this race to jack up GDP growth rate, Europe has come out with a great innovation. It has added drug sales and prostitution to the GDP calculations. Italy, Norway, Sweden, Fin...alnd are among those countries that have already started doing it. UK will begin from September, adding 10 billion Pound Sterlings to its economy (its growing at 0.8% now) every year. Remarkable, isn't it? Surprisingly, no economist worth the name has challenged it. If this is what computes GDP I think it s high time to shun the tamasha that surrounds the GDP as an indicator of economic growth.

I wouldn't be surprised if in the days to come call girls, pornograhy and even crime is included in GDP calculations. But before that I am sure economists would suggest including black money and blood money in GDP calculations. This sure is some economic growth. And we must all join in the celebrations

http://www.ft.com/intl/cms/s/2/65704ba0-e730-11e3-88be-00144feabdc0.html#axzz33kOOe2WB