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Terry Kirchner Interview Part III from Westfair Online on Vimeo.
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All eyes are on economic indicators these days. Jobless numbers, housing stats, corporate earnings (read: losses) and stock prices are being watched more closely than “American Idol” (at least by some of us in business, anyway).
And we”™re up on the latest GDP figures, too. That”™s gross domestic product, of course, the official gauge of the nation”™s economic health.
Or is it?
One observer is criticizing what she terms a “faulty GDP accounting system.”
“The GDP ”¦ is merely a gross tally of products and services bought and sold with no distinction as to what monetary transactions would enhance the well-being of the nation and which would diminish its well-being,” writes Maureen Morgan, in a recent edition of this newspaper.
The transit advocate and board member of Federated Conservationists of Westchester pens a regular column in the Business Journal, Surviving the Future, which explores a wide range of subjects to assist businesses in adapting to a new energy age.
The Business Journal checked in with Morgan to expand on this topic. In an Online interview, she talked about her concerns regarding the GDP, particularly as it relates to the costs of health care. Morgan asks: If the White House succeeds in getting health care costs under control how will it impact the GDP?
She answers: The GDP will definitely go down in direct relation to the drop in national health care expenditures.
