Green Gross Domestic Product

GDP is an abbreviation for gross domestic product. It is a term economists use to state the economic value of a country's economic activity. It is the sum of all of the goods and services produced in a country in a year. Green GDP is the gross domestic product with environmental costs and benefits added into the estimate of the GDP.

Wealth, similar to many economic terms, has been the subject of different theories and disputes through the centuries. When Adam Smith published his monumental economic study, The Wealth of Nations: An Inquiry Into the Nature and Causes of the Wealth of Nations, he was discussing a controversy of his time. What causes a country to be wealthy? Smith's answer was that it was the productivity ...