ECONOMY & Its PHILOSOPHY PART 15, GDP stands for gross domestic product - a measure of the value all the goods and services produced by an economy

·??????Published on August 9, 2020

??Published on September 10, 2021

Please note the crises of economy comes with collective mistake and it improves with collective efforts of rulers and public. In previous parts reason mentioned with respect to Religion Islam that it occurred due to superiority complex and proudness on Economy and other things.?However, few says actually it is also linked with mental health and brain capacity in third world country like Pakistan where corruption & Moral Value don’t allow to grow them and they face problems & difficult situations. Once Corruption in Business community and Moral value will reach at desire level, certainly economy will improve automatically it is not one day or one-month game, it depends on public behavior and businesses deeds.

14 Parts complete of Economy Philosophy along with examples now next parts we are moving while sharing the previous recession & depression not only current but events occurred in past. After that we will take start from reminding objective and these articles vision.

As nation we tell lie all in all professions, we break promises made with Allah, we need to united now on ward as economy is all about us, our moral value’s which will add vales in components of Economy & Its activity & Our economist will prepare required documentations for further proceedings.

Economy and its philosophy have given you flavor of last financial year Import/export data with all commodities and their values so it will help when specific industry wise chapters will be written in future. Now read my article /post on smuggling and then see again our economy badly hit by our neighbor & our Muslim brothers who live in KPK due to Afghanistan Transit.

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Now due to the present Rulers prompt actions & determination for bigger cause, head of Armed forces Qamar Javed Bajwa Sahib strengthen Armed forces grip by keeping the future of Pakistan and broader vision on all institutions and also helped Government to survive in different genuine and fake crises created to topple down the Government. Armed forces??also started the project of Barbwire on biggest border of Pakistan due to multipurpose causes.

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But keep in mind total smuggling impasse is not in favor of us immediately, in depth working required, yes 2 pillars only Armed Forces & civilians Government must decide because there is parallel economy before 2017 all multinationals & local companies working in Pakistan were showing double digit growth actual point is clear we were not taking serious Pakistan Itself and country long term objectives. No issue to collect desired revenue only self-accountability and Pakistani Muslims must not be Hypocrites otherwise same can happen with Pakistan as happened in 1258 in Baghdad (see undersigned pin tweet)

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As now we entered in to phase where we can give easily example of individual Country and group of countries which are impacted in different ways and derivatives of Impact on Country were different and how Countries changed their financial budges next financial year with short term objective and Prepared /updated long term objectives. Actually, Corona Virus changed the whole scenario of each & every country not only regarding the economy but also all activities and timings.

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Corona Virus

Coronavirus Economy: Recession or Depression?

Many Economists Have Come Around to The View That Coronavirus Disruptions Will Trigger a Global Reece

Ore Economists Are Warning of a Recession in The United States, Europe and Globally as Coronavirus Containment Measures Bring Entire Sectors of the World's Economy to A Halt.?Many Have?Also Compared The Swiftness And Severity Of The?Coronavirus?Slowdown With?The Great Depression That Began In 1929.?

ARE WE LOOKING AT A RECESSION? OR A DEPRESSION? AND WHAT EXACTLY IS THE DIFFERENCE??

WHAT IS A RECESSION?

A recession has traditionally been defined as two consecutive quarters or six straight months of negative economic growth. In the?US, though, the National Bureau of Economic Research (NBER) defines a?recession as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales."

WHAT DOES THE NBER MEAN BY 'REAL'? AND WHILE WE'RE AT IT - WHAT IS GDP?

Real means "adjusted for inflation".?GDP stands for gross domestic product - a measure of the value all the goods and services produced by an economy within a certain timeframe.?

GOT IT. SO WHY DO WE CARE WHAT THE NBER SAYS??

Because the NBER dates the business cycle - the peaks and troughs of economic activity -it actually has the measurements to determine when a recession is, well, a recession.?

The NBER is not a government entity, by the way. It's a private, non-profit, non-partisan research organization. It also publishes really interesting working papers, like?this one?examining what the Spanish flu pandemic of the early 1900s can tell us about the economic fallout from coronavirus.

UNDERSTOOD. SO HOW LONG CAN RECESSIONS LAST??

It depends. By NBER's definition, a recession does not necessarily have to last a minimum of 6 months. And some downturns continue for well over a year. The Great Recession in the US started in December 2007 and lasted until June 2009. That's 18 months in total. Nigeria fell into its first recession in a generation at the start of 2016 and did not emerge from it until the second quarter of 2017.

WHAT MADE THE GREAT RECESSION 'GREAT'?

The "Great" Recession earned that moniker because it was the worst crisis the US economy had experienced since the Great Depression of 1929. The name also turned out to be appropriate because it was the longest-lasting of the 17 recessions that the US has experienced to date.?

WHAT IS A DEPRESSION, THEN?

There is no set definition for a "depression", but when a country is faced with a prolonged economic downturn that is measured in years, rather than quarters - then you can be pretty certain it is experiencing a depression. The Great Depression, for example, began in 1929 and lasted until 1939.?

COULD THE CORONAVIRUS PANDEMIC TRIGGER A RECESSION?

Most economists have come around to that view. The International Monetary Fund said it sees negative global growth this year, and warned that we're facing "a recession at least as bad as during the global financial crisis or worse".

Many?Wall Street?economists also see a recession in the cards. Goldman Sachs thinks US economic output could nosedive 24 percent from April through June compared with a year earlier, and that the?unemployment?rate could peak at nine percent in the months ahead. Capital Economics sees second-quarter US economic growth plunging 40 percent from a year earlier and unemployment spiking to 12 percent.

OK, THIS IS SOUNDING SCARY. COULD WE BE HEADING FOR A (GULP) DEPRESSION?

No one can say for sure what the future holds. Some economists?think that economic activity could actually pick up in the second half of this year, depending on government stimulus packages, when the coronavirus crisis peaks and other factors.?

So why do we keep hearing the words 'coronavirus' and 'depression' together?

When you do hear or read the word "depression" alongside "coronavirus", it is usually analysts drawing comparisons with the suddenness and severity of the economic slowdown that happened in 1929.

BUT WHAT DO VETERANS FROM THE 2008 FINANCIAL CRISIS THINK?

Economist Nouriel Roubini, who warned about the 2008 financial crisis as early as 2006,?thinks a rebound later this year is unlikely. In a column for?Project Syndicate, Roubini - aka "Dr Doom" - argued that public health responses in advanced economies have fallen short of what is needed to contain the pandemic, and that fiscal packages are "neither large nor rapid enough to create the conditions for a timely recovery". For these reasons, he says,?"the risk of a new Great Depression, worse than the original - a Greater Depression - is rising by the day".

On the other hand, former Federal Reserve Chairman Ben Bernanke, who stewarded the US economy through the 2008 financial crisis, told business news network CNBC that the current shock the US economy is experiencing from?coronavirus is "much closer to a major snowstorm or a natural disaster than it is to a classic 1930s-style depression".

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Sectors of the Economy

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Learn more about the various sectors of the economy, including manufacturing, housing, and retailing, and find out which ones are most important in driving economic growth. These have been mentioned above in which we wrote different industries name then certainly all related to economic affairs. Where Economic activities will be done and desire results come certainly that is actual area of working

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GDP WE JUST TOUCHED THE TERMINOLOGY / GDP & ECONOMY OF PAKISTAN. TARGET AUDIENCE MUST CHECK OON INTERNET AND TV ANCHORS ALSO NEED TO INCREASE KNOWLEDGE

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What happens when the economy doesn't grow, and GDP contracts?

Find out the definitions, history, and causes of recessions and depressions.

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As per plan, I tried to create awareness among white color crimes not only my area of expertise but also across country business, Semi Govt/Govt, other institutions etc. Which contribute in GDP & Economy of PAKISTAN.?

Each word given below before that it will be converted in to question form like

o??What is the reason of unemployment?

o??What is the unemployment rate?

o??What are components of GDP, and why the economy's growth rate is so important?

o??What is the importance of inflation rate?

Balance of Trade, Current Account to GDP%, Current Account in Us $, Government Budget (% Of GDP), Consumer Confidence (Index Points), Corporate Tax Rate, Personal Income Tax, Income Tax Manual Part-1, Income Tax Ordinance,2001,?Amendment?Upton 30th, JUNE 2019. Markets Currency, Capital Stock Market Points, Government Bond With 10y%, Money Interest?Money Supply M2 (PR Million)?,Deposit Interest Rate (%), Loans To Private Sector (PKR Million) , Foreign Exchange Reserves (US$ Million) ,?Consumer Confidence (Index Points)?Consumer Spending (P Million)?Consumer Credit (PKR Million)?,?GDP Annual Growth Rate?GDP Constant Prices Gross National Product Gross Fixed Capital,?Formation GDP Per Capita GDP Per Capita PPP,?Profitable Opportunities, Products Trade Metals, Gold, Silver, Platinum, Copper Energy, Crude Oil, Brent Oil, Natural Gas, Agricultural Products Stock Exchange, Property, Housing, Innovation Electric Car Manufacturing , CNG Car Battery Charging, Mining, Modern Agriculture /Milk Production, Oil & Gas, Power, Mineral Resources, Energy, NEPRA, OGRA, PAPRA, PEMRA etc. Now It Is easier for you after reading the table that What Is the Annual Growth Rate and Which Commodities, Elements Contribute in GDP Which Is the Major Indicator of Inflation & Economy On Line Status.

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Pakistan GDP

GDP Annual Growth Rate

GDP

GDP Constant Prices

Gross National Product

Gross Fixed Capit

GDP per capita

GDP per capita PPP

GDP From Agriculture

GDP From Construction

GDP From Manufacturing

GDP From Mining

GDP From Services

??GDP From Transport

The above all components clearly indicate that How GDP determined so in this way the target audience may look again on last 14 parts or on internet may go for detailed search. The?basic idea is same that listener /public must know what is going on in economic sector and the persons/politicians which says corruption is not the problem of common man they must know it is problem of common man along with moral values.