Gross National Product is not the same as Net National Product.

Gross national product is a nation's total output of goods and services as measured in monetary value.

The gross national product of our country is the second largest.

Why don't we control for other factors?

In communism, the means of production are owned by the state.

Our country abounds in products.

The GDP is then divided into the private and public sector.

Secondly, under the beef protocol of that agreement,

There we are.

Two trillion a year.

Gross national product is a nation's total output of goods and services during a given period of time as measured in monetary value.

If, let's say we're talking about the USA, so that's my best attempt to draw the US,

The more productive the economy, the greater the circle.

I like it here.

The GNP has been growing at a snail's pace.

That country's wealth comes from its oil.

Our country produces a lot of sugar.

That's an enormous amount of cars.

And of course it will be hugely disruptive in preparation plans.

Everything is everywhere these days.

I learnt many things here.

Mass production?

We are internationally competitive in production technology.

In proportion as our GNP increases, our living standards go up.

like the European Union, Japan and of course, the United States.

This butter is domestic, but it is in no way inferior to foreign butter.

Japan is an industrial country.

If an American who's an American national goes oversees and produces something over there, that is not counted as GDP, if an American owns a firm in another country and that firm in the other country produces something, that is not GDP.

But assuming we get to this point, you just include the final good in GDP.

It could have been produced by someone from Mexico. It could have been produced by someone from Canada.

Life was very small for most people.

So at a national level and we work in about 60 different countries at a national level we've got a serious breakdown in the ability of governments to regulate production on their own soil.

54 of the 65 major oil producing nations have already peaked in production.

GDP says look, if it was produced inside the country, we don't care who it's been produced by.

But if you look at that same index of health and social problems in relation to GNP per capita, gross national income, there's nothing there, no correlation anymore.

Because those bicycle parts are so ubiquitously available, they're super cheap.

Having said 'domestic wine', anything bottled domestically is deemed to be domestic wine.

look, in a country like Tanzania, 80 percent of the population makes less than two dollars a day.

And then on the horizontal axis quantity, produced.

Why didn't they put it into production?

So where does this leave us?

But how could this be organized in our society?

which I find is somewhat ironic.

Well, watch what happens to India.

And he finished his talk with the phrase, that, The gross national product measures everything except that which makes life worthwhile.