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Regarding your future GDP; Nominal and PPP (w/ Per Capita
Topic Started: May 14 2009, 06:45 AM (486 Views)
zz(Dwight)
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I have find in the wikipedia regarding our future GDP and PPP (per year and per capita)

GDP Nominal: http://en.wikipedia.org/wiki/List_of_count...inal)_estimates
Per capita: http://en.wikipedia.org/wiki/List_of_count...apita_estimates

GDP PPP: http://en.wikipedia.org/wiki/List_of_count...(PPP)_estimates
Per capita: http://en.wikipedia.org/wiki/List_of_count...apita_estimates

Please use that as a BASE, as I said BASE, of your future GDP (PPP) and Nominal. You can use that guide to know what kind of changes you want to take, according to whatever kind of RP event happened to your nation. If your nation undergo a Mutiny and a series of civil unrest happened, economy is affected and it will more lower from that BASE GDP (PPP) and if everything goes straight, it can possible rise from that BASE if you hade any events or RP made that makes your economy rise (even 0.1%) from that BASE.

I hope this will help you out. :D
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Greece (TheOne)
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How do we determine how much it goes down or up by?
If lets say Somalia has a period of unprecedented stability, how much would it raise by?
I don't like the idea of getting too technical, but some sort of mechanism for determining will be required.
Also how will these estimated rises affect budget revenues?
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zz(Dwight)
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Greece [TheOne
 
,14 May 2009 07.12.45] How do we determine how much it goes down or up by?
If lets say Somalia has a period of unprecedented stability, how much would it raise by?
I don't like the idea of getting too technical, but some sort of mechanism for determining will be required.
Also how will these estimated rises affect budget revenues?

Well, it will be in terms of what RP did you done.
So let's use your example, if Somalia has a long term unprecedented, it's GDP growth will be based on whoever controls it. Let's say, I'm Somalia, and no wars right?? On the first years if it's GDP Growth Rate in negative, it might be remain negative for several years (eg 2008: -9%, 2009: -7.3 2010: -5.6%) but rising. Well, it's also on economic policies based. You will estimate it about it, there's no calculations, you will use estimation in these one based on the events you made.
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zzmorty
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GDP isn't always the best measure of economic conditions, too, you should remember. Nations with very large informal economies and a large degree of self-sufficient economic behavior (e.g., subsistence agriculture) will appear much worse in GDP figures than they are, because of how it is calculated. For example, if you grow 100 potatoes and sell them at market, then it counts in GDP, but if you consume them, then it doesn't. Barter also is rarely factored in accurately, so informal village economies tend to be underestimated.

I don't know of any popular measures that factor these in, but third world nations in particular should be wary of relying too heavily on GDP.
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Zactarn Prime
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Estonia [Morty
 
,14 May 2009 15.44.39] GDP isn't always the best measure of economic conditions, too, you should remember. Nations with very large informal economies and a large degree of self-sufficient economic behavior (e.g., subsistence agriculture) will appear much worse in GDP figures than they are, because of how it is calculated. For example, if you grow 100 potatoes and sell them at market, then it counts in GDP, but if you consume them, then it doesn't. Barter also is rarely factored in accurately, so informal village economies tend to be underestimated.

I don't know of any popular measures that factor these in, but third world nations in particular should be wary of relying too heavily on GDP.

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J.B. Hemlock
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That's all very true, but at the same time we all tend to look at our GDPs with an eye towards "what will this buy me?"

In other words, when we look at our GDP, we really are seeing the portion of that figure which turns into our government budgets. Any kind of subsistence farming, and the like, don't figure into that at all.

I can totally see what Dwight's getting at, though. If you know what you're doing with your economy, by all means do what you do. If you're unsure, however, then you can't really go wrong by starting with that base GDP and then nudging it based on the sorts of things you RP.
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aramil
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GDP is indeed important, but we should know its limitations. I for one am grappling with Iran's artificially low nominal GDP due to a horrible exchange rate, so PPP makes more sense.
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United States [Sel]
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GDP is the biggest bunch of bullshit since the Wealth of Nations. Just look at Bhutan: GNH all the way.
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zzskylar
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Israel [Sel Appa
 
,14 May 2009 20.19.08] GDP is the biggest bunch of bullshit since the Wealth of Nations. Just look at Bhutan: GNH all the way.

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I actually have this book, Gross National Happiness, and it's pretty interesting. :D
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zz(Dwight)
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I know. Well...I would like really to help out in the economic for this one. Because it's hard to know what will be your economy next year. I even plan making a corruption list based on your government, because there's no government that dont have corruption like this one: Example only!!

Democracy - 2-4% per government official (That includes, Senators, Congressman, Representatives, and other higher government officials. Mayor and lower officials not included)

Republic - 2-3% per government official (That includes, Senators, Congressman, Representatives, and other higher government officials. Mayor and lower officials not included)

Military Junta - 6-9% per government official (That includes, Senators, Congressman, Representatives, and other higher government officials. Mayor and lower officials not included)

Communist - 7-8% per government official (That includes, Senators, Congressman, Representatives, and other higher government officials. Mayor and lower officials not included)

I based the corruption on how free the government is, (too much freedom results on a corruption, and no freedom also results in a corruption) and also how strict are their leaders, and how the government officials are abusive in their power.

This some sort kinda what I want to be more organized in economy or something.
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zzmorty
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What, fundamentally, is the difference between a "democracy" and a "republic"? I know of no countries which operate as a direct democracy and no countries which are undemocratic republics (unless we're including all non-monarchies in the "republic" category, in which case dictatorships, military juntas, and communist regimes would be included).

Also, corruption is not the biggest (or even one of the biggest) factors inhibiting economic growth in most countries. Growth is correlated much better with overall economic freedom, reliable property rights, and fair judicial services than corruption.
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zztayyip
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I would have to agree with Estonia, corruption isnt the biggest factor inhibiting economic growth. In fact some would argue that it could at times promote growth, as in the case with Pinochet and several new African regimes who basically sell the government for oil.

And GDP is very important, saying it isnt is just a way for poor nations or communists to gain political clout.
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zzmorty
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I think you're overestimating the importance of GDP. It might be a decent method of comparison among free market first (and some second) world countries, but it certainly isn't very relevant in most of Sub-Saharan Africa where much of the economic activity which goes on is not measured.

Even for the developed world, GDP has its problems, which are not insignificant. It is very easily distorted by government spending, especially during times of rapidly expanding budgets, such as in wartime (giving the illusion of "war prosperity"). Communist nations can easily create extremely inflated GDP figures, so, really, relying too heavily on GDP is a much better way for communist nations to gain political clout (and, indeed, the USSR did just this, making the world think its economy was in much better shape than it was).
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zztayyip
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If uncorrupted, if you have GDP and to some extent population (GDP per capita) and disregarding issues of horribly unequal distribution of income, GDP works great to determine the health of a nation's economy. Government spending is still spending regardless.
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zzmorty
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That depends. Government spending may be spending, but government often deals in goods which have no market price (e.g., what is the market price of an aircraft carrier? A tank?) and therefore the increase in GDP from the purchase does not accurately reflect the economic benefits of the good in question.
When you take a bunch of such nonsense numbers and add them together to make a bigger nonsense number, it doesn't give you much in terms of economic information.
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zz(Dwight)
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I know that corruption is not included in economy, but expect that any expenses you made in your budget, includes corruption. This includes buying military equipment and something (either to your nation, or to the nation who sells you the equipment). It's everywhere.

GDP for me is one important things in economic growth, but it's hard really to make your future economic growth if we based in things, like GDP and other stuff.
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