GDP Transforms to Well-Being! Results in the USA and China
The internal consistency of GDP’s three component indicators: household consumption, company and household expenditure, and government spending, has not been examined. The internal consistency of these measures in the world’s two largest economies is identified in this chapter, as is their near-perfect prediction of the United Nations’ Human Development Index (HDI). Thus, without survey sampling, questionnaire questioning, probabilistic inference, or significance checking, HDI can be computed using only American and Chinese GDPs.
Author (s) Details
Gordon Bechtel
Warrington College of Business, University of Florida Gainesville, Gainesville FL 32611-7150, USA.
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