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.
In The Power of a Single Number, Philipp Lepenies recounts the lively history of GDP's political acceptance—and eventual dominance. Locating the origins of GDP measurements in Renaissance England, Lepenies explores the social and political factors that originally hindered its use. It was not until the early 1900s that an ingenuous 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.
- Cover
- Table of Contents
- Preface
- Executive Summary
- Acknowledgments
- Chapter 1 Introduction
- Chapter 2 Political Economy of the Maghreb
- Chapter 3 Maghreb Regional Integration
- Arab Maghreb Union
- Greater Arab Free Trade Area
- Euro-Med
Partnership
- Agadir Agreement
- Conclusion
- References
- Chapter 4 The Maghreb and Other Regional Initiatives: A Comparison
- Association of Southeast Asian Nations
- Central America
- Comparison with the Maghreb
- References
- Chapter 5 Maghreb Trade and Investment
- Overview
- Merchandise Trade
- Services Trade
- Foreign Investment
- Barriers to Trade and Investment
- References
- Chapter 6 Gravity Model Analysis
- The Gravity Model and Dataset
- Estimation Results
- Maghreb Integration Scenarios
- Simulation Results
- References
- Chapter 7 Evaluation of Trade Integration Using the Mirage Model
- Model and Database
- Trade Liberalization Options and Impacts for
Maghreb Countries
- Conclusion
- References
- Chapter 8 A Unified North Africa on the World Stage: Overview of Maghreb Sector Studies
- Sector Recommendations
- Conclusion
- References
- Chapter 9 The Maghreb Energy Sector: Situation and Perspectives
- Energy Situation
- Socioeconomic Data
- Scenarios and Perspectives in the Mediterranean Context
- Recommendations
- Conclusion
- Chapter 10 Maghreb Banks and Financial Markets
- Emigrant Remittances
- A Bank of the Mediterranean?
- Recommendations and Conclusion
- References
- Chapter 11 Opportunities for Logistical Improvements through Maghreb Integration
- Transport Reforms in the Region
- Measuring Logistics Performance
- Opportunities for Integration
- Concluding Remarks
- References
- Chapter 12 Updating the Maghreb Project: The Case of Food Industries
- Theoretical Framework
- Food Market Context Analysis
- Main Characteristics of Regional Markets
- Recommendations
- References
- Chapter 13 Reviving Maghreb Integration: Recommendations
- US-Maghreb Economic Ties
- EU-Maghreb Economic Ties
- Role of Bilateral Agreements
- Conclusion
- References
- About the Contributors
- Index
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