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.

Why don't we control for other factors?

Two trillion a year.

So the total assets were 5 billion in assets.

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

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

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

But anyway, Vikram had entered the market, and now I calculated here aggregate capacity.

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.

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

One of the viewers pointed out not incorrectly that one definition of return on asset so this whole video's going to be on return on asset that one definition of return on asset, and if you look it up on some of the finance sites or even some finance textbooks, they'll tell you it's net income over total assets.

So this box right here is GDP, so it's all the goods and services, essentially all the income, that we produce.

lived in Asia and they made more than half the world's product.

I'll do that in yellow.

The bank is going to be able to fulfill its promise.

And we have these 4 billion of CDOs.

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

It's worth 1.5 trillion dollars every year, and that's a vast amount of money, right?

It's basically two ratios of per capita GDP, per capita gross domestic product, so average income.

I learnt many things here.

Mass production?

You get more money because your terms of trade have improved, but also that drives up output across the board.

And if this is worth 2.5 billion, then your total assets are what?

Life was very small for most people.

This is just a fourth quarter number.

The other point that's worth noticing is how one dimensional this projection is.

What is the total number of students?

It would produce, at 2,000 gallons per acre per year, it would produce over 2 million gallons of fuel, which is about 20 percent of the biodiesel, or of the diesel that would be required in San Francisco, and that's without doing anything about efficiency.

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

And then on the horizontal axis quantity, produced.

Why didn't they put it into production?

which I find is somewhat ironic.

So I'm also solvent.

Now let's say I can take this 20 thread and I'll stay with white I can take this 20 thread and I could throw in some more labor

But that's not how much income we made, because there was a

We've got to reveal the dangers in the product.

And as an economist, we can also look at that side of the story. These are people who are productive agents in the economy.

Just smart people moving bits. Different rules.

2006 was a great year.

Because remember, this piece right here only adds up to 140,000!

So that one definition takes this and they divide by the total assets.

And to understand it, let's think about how jeans might be produced.

They had their entire lives ahead of them birthdays, graduations, weddings, kids of their own.

What's the most important things you need to do for the business to make the business model work.