Ask HN: How to evaluate a country's economic performance?

1 pointskostarelo2y ago5 comments

What would be the right indexes (or anything else) to evaluate a country's performance over a specific time period?

I would like to evaluate my country's (Greece) last government performance and what real effect it had over the country's wealth and the general population.

That is only for personal knowledge purposes and not for a professional/academic inquiry or something.

Thank you

5 comments

yuppie_scum2y ago

GDP (Gross Domestic Product) is the headline metric.

There must be many books on this subject, I’m pretty sure I learned that in one of my intro level college Economics classes (Econ minor)

I would pull out a macroeconomics and and microeconomics book from the library and study up. Maybe grab a Udemy course on Econ as well.

kostareloOP2y ago

I'm thinking that GDP is best used for longer term periods and not for a goverments' short term term, 4-10 years. For example, a goverement could be recklessly spending money that could have an effect on GDP but that doesn't show the whole picture.

Regardless, GDP is always useful so def one of the right metrics for economic performance in general.

Def I need more studying on the subject my self.

pestatije2y ago

id say this[4] is a fair account, despite the economist's known unfriendliness towards greece.

[4] https://archive.md/M6tUb - The Economist - Greece is a European success story

beardyw2y ago

The question you are asking is almost "what is economics?"

kostareloOP2y ago

Yeah I get that, I was looking for personal subjunctive opinions.

j / k navigate · click thread line to collapse

Ask HN: How to evaluate a country's economic performance?

1 pointskostarelo2y ago5 comments

What would be the right indexes (or anything else) to evaluate a country's performance over a specific time period?

I would like to evaluate my country's (Greece) last government performance and what real effect it had over the country's wealth and the general population.

That is only for personal knowledge purposes and not for a professional/academic inquiry or something.

Thank you

5 comments

yuppie_scum2y ago

GDP (Gross Domestic Product) is the headline metric.

There must be many books on this subject, I’m pretty sure I learned that in one of my intro level college Economics classes (Econ minor)

I would pull out a macroeconomics and and microeconomics book from the library and study up. Maybe grab a Udemy course on Econ as well.

kostareloOP2y ago

Regardless, GDP is always useful so def one of the right metrics for economic performance in general.

Def I need more studying on the subject my self.

pestatije2y ago

id say this[4] is a fair account, despite the economist's known unfriendliness towards greece.

[4] https://archive.md/M6tUb - The Economist - Greece is a European success story

beardyw2y ago

The question you are asking is almost "what is economics?"

kostareloOP2y ago

Yeah I get that, I was looking for personal subjunctive opinions.

j / k navigate · click thread line to collapse