Economics: Gross Domestic Product vs Gross National Happiness

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    12-Nov-2014

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A macroeconomics essay on the differences between GDP and GNH.

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<p>Hillis1 JessicaHillis Radler Macroeconomics 25September2007 GDPvs.GNH Moneyisanextremelypreciouscommodityinthemodernworld.Moneycanbuy youjustaboutanything,whichiswhycountriesliketheUnitedStates,GreatBritain,Ger manyandRussiameasuretheireconomywealthinGDP,orgrossdomesticproduct.But notallcountriesmeasureinGDP,somecountries,likethecountryofBhutan,measures theireconomywealthalittledifferently.TheymeasureinGNH,orgrossnationalhappi ness. ThesmallcountryofBhutan,locatedintheHimalayans,doesnotseemoneyas muchoftherestoftheworlddoes.ThepeopleofBhutandonothaveasmanymaterial possessionsasthepeopleoftheUnitedStates,andthereforedonothaveasmuchofause formoney.EventhoughAmericansseemtoneedmoneytobehappyoratpeace,the peopleofthissmallnationdontneedmoneytofeelthesameway. Americanfamiliesnowadayshavetoconstantlybetryingtoearnmoremoney. Parentshavetobeworkingfulltime,thechildrenneedtobeputintodaycare,theyneed tobeeducated,andfoodneedstobesuppliedforthefamiliestosurvive.Thestresslevel intheUnitedStates,aswellasmanyotherfirstworldcountriesishighlyelevated,asop</p> <p>Hillis2 posedtothestresslevelofthefamiliesofBhutan.Bhutanesefamiliesallworktogether onfarmsorathomes,tendingtoanimalsorothersmallhomebasedbusinesses,allowing familiestospendmoretimetogether.Americanfamiliesareconstantlyinschoolorat work,lesseningtheamountoftimetheyhavetospendwitheachother. ThoughBhutanesepeoplehavemuchlessmoneythanAmericans,theirhappiness seemstobehigherbecausetheyhavenouseformoney.TradeinBhutandealswithanim alsorfood,orhandcraftedarticlesofclothingorweaponry.InAmerica,everythingthat couldpossiblybeboughtorsoldcanonlybedonesowiththeuseofmoney.Withthat money,Americansarealwaystryingtogetjustalittlebitmore,whileBhutanesepeople knowwhattheyhaveanddontfeeltheneedtoupgradetheirlives.Theyrecontentwith thewaytheirlivesare,whileAmericansseemtonotbeascontent. GDPisanimportantconceptinmanyfirstworldcountries,astheeconomyof thosecountriesisalwayschanging,eitherpositivelyornegatively.Theeconomiesof countrieslikeBhutanissosmall,thattheyrarelychange,whichmakeasystemliketrack ingGDPobsolete.GNHisabetterwaytoworkbecausethepeoplehavenousefor money,theyhavemoreopportunitiestobehappyandcontentwiththattheyownand whattheyknowtheycanget,asopposedtoAmericans,whoareconstantlyexchanging money,orgainingorlosingmoney.Happinessislessapparentwhenpeopleareconstantly wrappedupinmoneyaffairs.Americansarelesshappybecausetheeconomyissolarge, whiletheBhutanesearehappywithlessmoneyandasmallereconomy.</p>

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