Word: oecd
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...under siege in Gaza and walled off in the West Bank. Terror attacks are rare today and most Israelis are scarcely aware that the Palestinians exist. Israel's booming economy, increasingly integrated with those of Europe and the U.S., is knocking on the door of membership to the OECD; its lifestyle is increasingly American; its culture entirely integrated with the globalized West...
...feels like an idea whose time has finally passed. "GDP measures, in a certain sense, how much stuff we can produce that we can drop on an enemy," Alan Krueger - now a top-ranked economist in the Obama Administration - said at the Organization for Economic Cooperation and Development (OECD) World Forum in 2007. "It's natural in the post?Cold War era that we would turn to other measures of how well our society is doing...
...just misleading, it's harmful. Focusing on economic growth blinds policymakers to other measures of progress. "If a policy is going to hurt GDP then it's difficult for that policy to survive," says Jon Hall, who is overseeing a search for better measures of progress by the OECD...
Despite its flaws, GDP has proved hard to replace - if only because it provides a single number which nations can use to measure themselves against neighbors and rivals. At an OECD conference in Korea later this month, attendees will try to develop an array of measures that take into account broader definitions of well-being. They have their work cut out for them. While the tiny Himalayan kingdom of Bhutan measures its gross national happiness, no major economy has followed suit...
...rest of the industrialized world may be in worse shape. To measure excess capacity, economists use a metric called the "output gap," defined as the difference between the potential output of a given economy and what is actually being produced (including services). The Organization for Economic Cooperation and Development (OECD) is projecting that, despite global production cutbacks, the situation is actually getting worse because the recovery will be weak. In 2010 the output gap among 24 OECD member nations is projected to widen to -5.7% - the widest gulf by far in the post-World War II era. (See 25 people...