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Essay: Barometer of Economic Performance | Term Paper Queen

Sample Essay

The basic ideology presented in the article is based on economic performance and methods of evaluating this performance. The GDP has been criticized as an inappropriate measure of economic performance as governments can easily manipulate these values and cause the GDP to reflect favorable values. It is quite easy to agree with the statement that GDP is not a true barometer of economic performance as it has been seen in the past that countries with efficient GDP have failed in the past.

There is also a contradictory view that GDP is in fact a true reflection of economic performance as the components of GDP come from actual sources through statistical measures. The value derived from factual data and factual information is deemed to be factual but only if calculated correctly and no distortions take place during valuation. This value would deviate from reality if the data is manipulated.

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