B2 – Upper Intermediate
In 1934, an American economist Simon Kuznets developed the concept of GDP. It is the monetary value of all products and services produced in a country each year. Today, it is now used as a means to measure the economic progress of a nation. Kate Raworth, an English economist, proposed a different approach in measuring and creating a better economy.
Let’s watch the video and know more about the “Doughnut Economics”.
Vocabulary Questions:
- What does the phrasal verb “run down” mean? “It tells us nothing about the living world, the forest and the mines that get run down in order to create this value.” Use it in your own sentence.
- What does “caveat” mean? Use it in a sentence.
- Give 1-2 synonym/s of the word “overshoot”. Use them in your own sentences.
Discussion Questions:
- What is the doughnut theory? How does it work and how is it different from the Peter Pan theory?
- Do you agree that endless growth is a sign of progress in economy? Why or why not?
- How can GDP alone not measure the economic progress of a country?