Economic Growth and Sustainability Issues

The video discusses the concept of being 'hooked on growth' and critiques the reliance on GDP as a measure of economic well-being. It highlights the limitations of GDP, especially during financial crises, and introduces the Genuine Progress Indicator (GPI) as a more comprehensive measure. The discussion extends to sustainability, emphasizing the need to redefine growth to focus on well-being, employment, and poverty reduction.

What is the main argument against the current pursuit of economic growth?

• It leads to increased oil consumption.

• It no longer contributes to sustainable well-being.

• It results in higher unemployment rates.

• It is based on outdated economic theories.

What was GDP originally designed to measure?

• Social welfare

• Economic activity and productivity

• Economic well-being

• Sustainable development

Which of the following is NOT included in the Genuine Progress Indicator (GPI)?

• Stock market performance

• Income distribution

• Household labor

• Volunteer work

What does the video suggest is more important than GDP?

• Technological advancement

• Financial growth

• External costs and benefits

• Market expansion

What does the Genuine Progress Indicator subtract from its calculations?

• Income distribution

• Cost of crime and pollution

• Household labor

• Volunteer work

Since when has the Genuine Progress Indicator shown stagnation in the US?

• 1990

• 1985

• 1975

• 1969

What is a key component of sustainability according to the video?

• Maximizing GDP

• Creating rewarding jobs

• Increasing oil production

• Expanding market systems

What is a common misconception about economic growth?

• It automatically improves well-being.

• It is necessary for technological advancement.

• It always leads to job creation.

• It reduces poverty rates.

What does the video suggest should be the focus instead of just growth?

• Increasing GDP

• Expanding industrial output

• Providing meaningful employment

• Enhancing consumption

What is the video’s stance on the relationship between economic growth and poverty?

• Growth increases poverty rates.

• There is no evidence that growth reduces poverty.

• Growth has no impact on poverty.

• Growth always reduces poverty.