SCOTONOMICS EP.5 Measuring the economy

How should we measure the success of an economy? What do GDP and GNP tell us anyway? And more importantly what doesn't it tell us about the economy? In this episode, we will look at how we measure the economy in the UK as a whole and in Scotland. We will also take a side look at GERS (Government Expenditure and Revenue Scotland) as well. 0:00 GDP explained introduction 2:18 GDP goes up when people pollute! 5:00 BREXIT and Inequality 9:00 GDP across the country and across society 10:22 Geni Coefficient 14:00 Happiness measurement of an economy 18:00 Relative wealth and relative poverty 21:50 Are teenagers less materialistic? 25:30 Growth as THE driver for our economy 31:50 GERS - how we currently measure the Scottish economy 37:50 What Kairin picked out from the interview 42:15 What is happening in episode six    Robert Kennedy's brilliant speech on GDP: https://www.youtube.com/watch?v=3FAmr...