when was the concept of gross domestic product (gdp) born
Gross domestic product William Petty came up with a basic concept of GDP to defend landlords against unfair taxation during warfare between the Dutch and the English between 1652 and 1674.[6] Charles Davenant developed the method further in 1695.[7] The modern concept of GDP was first developed by Simon Kuznets for a US Congress report in 1934.[8] In this report, Kuznets warned against its use as a measure of welfare[1] (see below under limitations and criticisms). After the Bretton Woods conference in 1944, GDP became the main tool for measuring a country's economy.[9] At that time gross national product (GNP) was the preferred estimate, which differed from GDP in that it measured production by a country's citizens at home and abroad rather than its 'resident institutional units' (see OECD definition above). The switch from "GNP" to "GDP" in the US was in 1991, trailing behind most other nations. Crucial to the development of GDP was its role in the wartime effort.[10] A crucial role was played here by the US Department of Commerce under Milton Gilbert where ideas from Kuznets were embedded into governmental institutions.
Developed country Economic criteria have tended to dominate discussions. One such criterion is income per capita; countries with high gross domestic product (GDP) per capita would thus be described as developed countries. Another economic criterion is industrialization; countries in which the tertiary and quaternary sectors of industry dominate would thus be described as developed. More recently another measure, the Human Development Index (HDI), which combines an economic measure, national income, with other measures, indices for life expectancy and education has become prominent. This criterion would define developed countries as those with a very high (HDI) rating.
Alonso Álvarez de Pineda
ICD-10 Work on ICD-10 began in 1983 and was completed in 1992.[1]