Simon Kuznets
Simon Kuznets was a prominent American economist, best known as the 'father of GDP' for developing the Gross Domestic Product (GDP) metric during the Great Depression in the 1930s. Kuznets warned against using GDP as a measure of social welfare, advocating for a comprehensive understanding of economic activity that considers income distribution and quality of life.
Born on Apr 30, 1901 (123 years old)
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Venezuela:
Simon Kuznets related economic development to income distribution.
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Cabo Verde:
Simon Kuznets, another Nobel Prize-winning economist, emphasized that modern economic growth is the foundation for sustained increases in living standards.
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Romania:
Simon Kuznets is recognized as the 'father' of GDP, having introduced the indicator in 1934 at the request of the US Congress.
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