gross national product

It is estimated that over the next five or six years that the AI s- that the defense spending will be...

At the moment it's 2% of the GNP, 2% of the total output of the economy, value of the economy, and it looks like it's heading into 4%.

So you get a sense of the enormous increases that are coming along in defense spending.

Let's take a look at defense spending.

What we have to understand then is not only do we have these extraordinary increases in deficit financing and spending, but we also have the risks of significant write-offs as well.

And if you have significant write-offs and you're dealing with a subject that is also destructive of assets of its own self, you're looking at a chasm of economic, um, difficulty, shall we call it? But a d- a place where the end result is not a very happy one.

The financial, uh, percentage of GNP, we've already talked about how it's going to be increasing.

One of the problems with defense spending is it's often, um, feted as being it will help the economy.

And the GDP number may tell us that both economies grew, but it does not tell us that they developed in the same way.

And this is why the discussion around GNP, national income, productivity, employment, value addition, and economic sovereignty matters.

The goal is not to create one perfect replacement for GDP.

The goal is to build a better dashboard.

So it's a good indicator of economic growth if we look at it nominally, but whether or not it indicates development is actually up for debate.

So, yeah.

So to build on that, what is the fundamental difference between GDP and GNP and why have countries traditionally chosen GDP as their primary economic measures?

Well, GDP and GNP differ basically on how we consider production.

And we can help him a lot by challenging the mainstream lies and challenging people who are bad-mouthing him all over the world and in our own countries, including our politicians.

I just want to make a point that the Gross National Product increased the salary and the standard of living of Russians in 2013 by over 11%.

Now, let's pencil that out with Obama and compare all the good Obama did for Americans and how he increased our standard of living and security.

compared to Putin.

Those things, so when one thing changes, another thing changes.

The Gross National Product does not allow the health of our children, the quality of their education, or the joy of their play.

Hello and welcome to Invisible Handcuffs, a podcast that seeks to expose the economic ideology underpinning our crisis and explore ways we can free ourselves from its chains.

My name is Katie Shields and I'm a recovering mainstream economist and your host.

So I would say that in this multipolar world, we're learning there's a lot of different power bases around Iran.

And it's not only the measurement of GNP or GNP per capita.

There's a lot of other things in there.

So I'd like you now, you know, now that we're sort of in the meat of things, could you take us through some of the biggest, I guess, negotiations that you were a part of? Because you were a part of some landmark agreements, the GSP, the CBI, NAFTA, AGOA, the African Growth and Opportunities Act.