The Little Big Number: How GDP Came to Rule the World and What to Do about It by

Description: The Little Big Number by Dirk Philipsen In one lifetime, GDP, or Gross Domestic Product, has ballooned from a narrow economic tool into a global article of faith. As The Little Big Number demonstrates, this spells trouble. While economies and cultures measure their performance by it, GDP only measures output. It ignores central facts such as quality, costs, or purpose. Sustainability and FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description In one lifetime, GDP, or Gross Domestic Product, has ballooned from a narrow economic tool into a global article of faith. As The Little Big Number demonstrates, this spells trouble. While economies and cultures measure their performance by it, GDP only measures output. It ignores central facts such as quality, costs, or purpose. Sustainability and quality of life are overlooked. Losses dont count. The world can no longer afford GDP rule--GDP ignores real development. Dirk Philipsen demonstrates how the history of GDP reveals unique opportunities to fashion smarter goals and measures. The Little Big Number explores a possible roadmap for a future that advances quality of life rather than indiscriminate growth. Notes Challenges GDP as a global article of faith, and explores a possible roadmap for a future that advances quality of life rather than indiscriminate growth. Back Cover "GDP is not just a number but is code for a set of economic values and principles that were not supposed to question. Philipsen breaks that taboo by critically assessing the origins and impacts of our overreliance on this flawed metric. Anyone who wants to understand our economys weaknesses--and how to make them better--needs to read this book." --Annie Leonard, author of The Story of Stuff and executive director of Greenpeace USA "Philipsen brilliantly exposes the skeleton hiding in the economists closet--the dangerously misleading talisman of GDP. He uncovers the extraordinary story of how good intentions morphed into the monstrous misconception of public progress and economic value that reigns over politics and public opinion. If society fails to heed Philipsens message about developing new ways to measure economic gain and loss, the sustainable future is not going to be possible." --William Greider, author of The Soul of Capitalism " The Little Big Number makes the case that GDP has become counterproductive and we need better goals and measures of progress. An excellent and timely book." --Robert Costanza, Australian National University "Philipsen presents a well-researched, persuasively written book on what is wrong with the economic system we live in and live by. Showing that the GDP measure binds all the different fallacies of our economic world together, he offers a call to action on what we need to change now." --Floris Heukelom, Radboud University "The Little Big Number demonstrates that the reigning measure of economic policymaking worldwide is not only inadequate but perverse in its impact on any possibility for sane social and economic discourse. This impressive and lively book will become the authoritative text for critiquing GDP." --Thad Williamson, University of Richmond Flap "Philipsen brilliantly exposes the skeleton hiding in the economists closet-the dangerously misleading talisman of GDP. He uncovers the extraordinary story of how good intentions morphed into the monstrous misconception of public progress and economic value that reigns over politics and public opinion. If society fails to heed Philipsens message about developing new ways to measure economic gain and loss, the sustainable future is not going to be possible." --William Greider, author of The Soul of Capitalism "The Little Big Number makes the case that GDP has become counterproductive and we need better goals and measures of progress. This excellent and timely book communicates this argument in a style suitable for general audiences." --Robert Costanza, Australian National University "Philipsen presents a well-researched, persuasively written book on what is wrong with the economic system we live in and live by. Showing that the GDP measure binds all the different fallacies of our economic world together, he offers a call to action on what we need to change now." --Floris Heukelom, Radboud University "The Little Big Number demonstrates that the reigning measure of economic policymaking worldwide is not only inadequate but perverse in its impact on any possibility for sane social and economic discourse. This impressive and lively book will become the authoritative text for critiquing GDP." --Thad Williamson, University of Richmond Author Biography Dirk Philipsen is a German- and American-trained professor of economic history at the Sanford School of Public Policy and a senior fellow at the Kenan Institute for Ethics, both at Duke University. Table of Contents Acknowledgments vii Introduction: We Become What We Measure 1 Casting a Spell 9 Exploring a Path 13 1. More, Better, Faster: The Beginnings 19 Productivity, Growth, and Success 20 Goals and Measures 27 Values and Measures 32 2. The Origins of Bling: The Spirit of Economic Growth 40 The World of Growth: Refining the Measure 52 Business Accounting Goes National 57 3. The Crucible of Crisis: The Great Depression and the Need for Economic Indicators 65 4. Born from Disaster: The Making of a Key Measure 83 The Challenge 84 The Players 89 The Method 93 The Findings 99 The Big Conundrum: Translating Findings into Action 102 5. Forged in War 107 6. Global Domination: The Age of GDP 117 For Richer or Poorer 117 A Stunted Priesthood 121 Stopgap Consensus 123 Going Global 128 New Rules 130 GDP Junkies 133 Shackled in Fools Gold 139 7. Todays ABC of GDP 143 Its an Emperor, but Does It Have Clothes? 152 Why It Matters 157 8. More Is Not Enough 160 The Little Big Number: Our Report Card for Success 174 Emerging Dissent 178 9. "The People of Plenty Are a People of Waste" 184 Breaking the Spell 204 10. From Alchemy to Reason: What If? A Thought Experiment 208 Mental Cobwebs 219 One More Time: Simon Kuznets 230 Clearing a Path 236 11. Looking Forward 243 A Daring Vision 250 A Moment of Possibility 265 Appendix A. The Measure as Guide 271 Notes 277 Bibliography 351 Index 389 Review "[Philipsen] is not the first to question the utility of GDP estimates, but he may be the most exasperated. His comprehensive history... compares GDP to any number of villains in order to make tangible the numbers many flaws... He is keyed into how a culture that once burgeoned can implode, and he is anxious about ours."--Katy Lederer, New Yorker "Comprehensive and readable... Philipsen is motivated by a profound dissatisfaction with the dominance of growth in the national economic agenda, and with the way in which GDP... has become a goal rather than simply a measuring tool... [I]n the end the policies he advocates may indeed prevail, and our fixation on growth in GDP as the sole indicator of human happiness may at last be laid to rest."--David Throsby, Times Literary Supplement "[The Little Big Number] takes the anti-GDP case even further... Philipsen argues that not only is GDP a flawed statistic in need of replacing--but the whole notion of open-ended economic growth needs to go, too."--Kevin Hartnett, Boston Globe "Some efforts are already underway, most notably the Beyond GDP initiative by the European Commission, but much remains to be done. Philipsens book is a clarion call."--Seeking Alpha "[Philipsens] call for a dialogue about setting new goals--sustainability, equity, democratic accountability, and economic viability--should command our attention... It wont be easy. But Philipsen is surely right that no task is more important."--Glenn C. Altschuler, Huffington Post "Dirk Philipsens The Little Big Number, couldnt have come at a better time."--Douglas Beal, Huffington Post "[A] provocative and insightful book... The book stands on its own as a piece of economic history, but also serves as an important call for social change."--Alex Mitchell, Consumption Markets & Culture "This book nicely summarizes the many critiques of GDP. Philipsens knowledge of economic theory, statistics, econometric accounting, and history is impressive."--Stephen Macekura, American Historical Review "Its cautionary story of the creation of GNP accounting is eye-opening, and well told. The list of ways that GDP could be improved, even as a measure of production ... all provoke thought. The book easily could be used as a directory of research criticizing GDP."--Donald Frey, EH.Net Review Quote This book nicely summarizes the many critiques of GDP. Philipsens knowledge of economic theory, statistics, econometric accounting, and history is impressive. ---Stephen Macekura, American Historical Review Details ISBN0691166528 Publisher Princeton University Press Year 2015 ISBN-10 0691166528 ISBN-13 9780691166520 Format Hardcover Author Dirk Philipsen Imprint Princeton University Press Place of Publication New Jersey Country of Publication United States DEWEY 339.31 Birth 1959 Pages 416 Media Book Short Title LITTLE BIG NUMBER Language English Subtitle How GDP Came to Rule the World and What to Do about It Translated from English Illustrations 2 halftones. 9 line illus. 3 tables. NZ Release Date 2015-05-26 US Release Date 2015-05-26 UK Release Date 2015-05-26 Publication Date 2015-05-26 Alternative 9780691175935 Audience Tertiary & Higher Education AU Release Date 2015-08-03 We've got this At The Nile, if you're looking for it, we've got it. 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