GDP Welfare Economic Growth Production Capacity & Well Being

Question Description

I’m working on a economics discussion question and need support to help me learn.

If society’s goal is to make people happier, and higher GDP isn’t closely associated with being happier, why do economists even talk about GDP? In the early 2000s, some people, part of a renewed “Simplicity Movement,” felt that accumulating material things reduced their happiness. Assuming they are truly happier with fewer material goods, what does this suggest about the connection between GDP and welfare?

Each discussion topic will be “Open” for a one-week period. There are two aspects to discussions: an original post and a response to peers.

You are required to post one “substantive” posting addressing the course material. By “substantive,” I mean not merely providing a brief “yes, I agree” or “no, I do not agree” posting, but discussing the issues in some depth, providing your own thoughts or questions on the matter. Ideally, I’d like you to connect and integrate the discussion prompt to the course lectures, class discussions, and course textbook (whenever possible). The more evidence that shows you are doing the readings and engaging with them, the better. In your posting, avoid making unsubstantiated assertions and claims. Support your point with evidence from the textbook or other websites (include citations), whenever possible. Some possible ideas to write about include, describing any connections between the readings or course material, expanding on a concept or idea that struck you in the course material, or offering another explanation or illustrative example. (minimum of 250 words)
You are also required to do two peer reviews.

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