The power of a single number
Subtitle: a political history of GDP
By: Philipp Lepenies ; translated by Jeremy Gaines
Contributors: Gaines, Jeremy, translator
Publisher: Columbia University Press
Published: 2016
Language: eng
Number of pages: 186
ISBN-13: 9780231175104; 9780231541435
Subjects: Gross domestic product; History
Work titles: Macht der einen Zahl
Description: Widely used since the mid-twentieth century, GDP (gross domestic product) has become the world's most powerful statistical indicator of national development and progress. Practically all governments adhere to the idea that GDP growth is a primary economic target, and while criticism of this measure has grown, neither its champions nor its detractors deny its central importance in our political culture. Here, social scientist Philipp Lepenies recounts the lively history of GDP's political acceptance--and eventual dominance. Locating the origins of GDP measurement in Renaissance England, Lepenies explores the social and political factors that originally hindered its use. It was not until the early 1900s that an ingenious lone-wolf economist revived and honed GDP's statistical approach. These ideas were then extended by John Maynard Keynes, and a more focused study of national income was born. American economists furthered this work by emphasizing GDP's ties to social well-being, setting the stage for its ascent. GDP finally achieved its singular status during World War II, assuming the importance it retains today. Lepenies's absorbing account helps us understand the personalities and popular events that propelled GDP to supremacy, and clarifies current debates over the wisdom of the number's rule.--Adapted from dust jacket.
Notes: Includes bibliographical references (pages 157-173) and index.

Translated from the German.
Table of contents: title: Introduction; title: What it's all about : a short primer on GDP; title: William Petty and political arithmetic : the origins of GDP; title: The frustrations of Colin Clark : England; title: Simon Kuznets and the politics of gross national product : the United States; title: War, kidnapping, and data theft : Germany; title: The ultimate triumph of gross national product; title: Conclusion; title: Notes; title: Index.