Why is GDP not reliable?
Each countries have different income, even though if GDP or GDP per capita are similar, distribution of income may differ a lot.
DIfferent work time also effect GDP. E.g Malaysia has sligh shorter working time compare to Indonesia, but there is a huge gap between both's GDP.
Different countries have different value or exchange rates, thus setting different international price, which also effect GDP. If a country has stronger currency, e.g UK's pound, the GDP will be a lot higher than Malaysia's RM.
Black markets are not counted to final GDP, and Malaysia has a lot of black market... so yea....
Each countries have different income, even though if GDP or GDP per capita are similar, distribution of income may differ a lot.
DIfferent work time also effect GDP. E.g Malaysia has sligh shorter working time compare to Indonesia, but there is a huge gap between both's GDP.
Different countries have different value or exchange rates, thus setting different international price, which also effect GDP. If a country has stronger currency, e.g UK's pound, the GDP will be a lot higher than Malaysia's RM.
Black markets are not counted to final GDP, and Malaysia has a lot of black market... so yea....