All of our competitors around the world, every country is investing more in infrastructure as a percentage of their GDP than we are. And down the road our children and grandchildren will have to compete with that more and more.
A lot of people abroad know Lula's campaigns against poverty and hunger, but he had a tremendous legacy in education too. He invested 2 percent of GDP, more than other administration, putting the PT's education programs in motion.
Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0 percent balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.
For most of human history, the main goal of states has been to conquer land and to achieve glory for their rulers, usually at others' expense. Then in recent decades it was all about GDP. It's only in very recent history that rulers have been willing to commit themselves to helping their citizens live happier lives.
GDP is a function of capital, labour and how productively you use both.
The Obama administration's attempted short-term fixes, even with unprecedented monetary easing by the Federal Reserve, produced average GDP growth of just 2.2% over the past three years, and the consensus outlook appears no better for the year ahead.
The question is: How do we reduce spending from 25% of GDP, which is where Obama put us? The focus is on total government spending. Can we bring it down, in a reasonable and politically acceptable way? That's what the Paul Ryan plan does. It puts us on a gradual reform path to reducing the size of government.
We are misery-making machines! Homo sapiens has perfected the art of causing suffering. Pain is humankind's collective GDP.
India needs to be liberated both from the 'high GDP growth hedgehogs' and the 'conservation at all costs hedgehogs.'
Europe and North America, we are told, are less dependent on energy-intensive heavy industry than in the 1960s and 1970s. It seems we squeeze more GDP out of a barrel of oil than in those benighted days.
