Beyond GDP vs. GDP: Contemporary tendencies in measuring the level of country economic development
In the essence, the problem of eco-economic (economic and environmental) development is reduced to the problem of choosing concrete protection mechanisms and measurement heights achieved economic, and environmental, social and institutional (sustainable) development. This opens up the question of measuring the economic problems, but also each other prosperity of society, because they set goals, benchmarks and parameters to be taken into account are different, depending on what needs to be done measuring the degree of development. This mechanism of measuring economic development, set 30-s of the 20 th century, more and more often is criticized modern economists such as Joseph Stiglitz, who report that in the modern global business development of the country should be measured by a broader set of indicators. For these reasons, the European Commission in cooperation with the European Parliament, the OECD, the Club of Rome and the World Wide Fund (WWF), in 2007. organized International Conference - Beyond GDP Conference. In this sense, in addition to GDP, significant measures have been introduced for economic development and other indicators of well-known as an Enlarged GDP. The aim of this paper is to present the fundamental differences between GDP and GDP Enlarged indicators in calculation methodology that takes into consideration and certain other elements apart from consumption, investment and export levels. .