Measuring National Income and Growth in Resource-Rich, Income-Poor Countries

Abstract

GDP, the leading economic measurement, is outdated and misleading. . . . It’s like grading a corporation based on today’s cash flow and forgetting to depreciate assets and other costs. – Joseph Stiglitz, “Good Numbers Gone Bad,” Fortune, October 2, 2006.National income, growth, natural resources, resource-rich, income-poor, GPD, wealth, assets, exports, imports