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Working Paper: Redefining the Economical Power of Nations

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Keywords
  • A10 - General
  • A13 - Relation Of Economics To Social Values
  • C10 - General
  • C12 - Hypothesis Testing: General
  • C60 - General
  • E10 - General
  • F02 - International Economic Order
  • O47 - Measurement Of Economic Growth
  • Aggregate Productivity
  • Cross-Country Output Convergence

Abstract

The measurement of economies no longer by GDP alone, but by an Index that includes other important factors as well, a Social factors relativized GDP. Social factors relativized GDP: GDP – GDP x GINI = K_Index Written differently: (1 – GINI) x GDP = K_Index Inflation indexed Version: (1 – GINI – Inflation) x GDP = K_Index_Infl. Productivity Index: K_Index / Labor Force = K_PROD Inflation indexed Productivity Index: K_Index_Infl. / Labor Force = K_PROD_Infl. Debt-to-K_Index: National debt / K_Index = K_Debt Debt-to-K_Index_Infl: National debt / K_Index_Infl. = K_Debt_Infl.

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