Niegeria -This is a new country.
GDP is utter nonsense. Only the top percent in each country benefit when the GDP expands.GDP is a misleading indicator of quality of life due to the following
1. More populated countries tend to have higher GDP e.g Nigeria, China, USA, Russia etc which doesn’t imply improved quality of life for the residents.
2. Reffering to point one above, GDP and per capita income assumes that all citizens make an equal contribution to GDP.Which is false considering that only the top percent and corrupt benefit from a higher GDP.
3. GDP per capita is a misleading since in some countries the people who are responsible for production of final goods and services in that country may not be residents of the same country hence leading to an understatement of overstatement of GDP per capita
Some examples to prove that the size of GDP doesn’t necessarily affect the quality of life.
1. USA and China have the largest GDP’s but are ranked at 22 and 82 respectively in terms of life satisfaction.
2. China has the 2nd largest GDP size but its ranked No.93 in terms of GDP per capita.
3. Denmark is ranked 33 and 20 in terms of GDP size and GDP per capita respectively but it’s ranked No.1 in terms of life satisfaction.
If Obiero did it, Who Am I?