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That downplayed the differential between countries with higher per-capita GDP's, like the United States ($45,592), and countries like Sweden ($36,712) and Canada ($35,812).
It took 40 years for Kennedy's words to reach Washington DC: in March 2008 a US Senate committee discussed GDP's failure to measure environmental damage, poverty, income inequality, health and the quality of life.
These initiatives to tear GDP apart are still in progress, but they make it clear that GDP's 80-year reign as the unchallenged measure of national wealth is at an end.
Here at the Datablog we're not immune to GDP's hypnotic effect - we publish the latest figures when they're out, complete with estimates per person, all adjusted (and unadjusted) for inflation.
In the absence of such factors (and it was always hard to see how UK interest rates could go any lower or sterling could have fallen much further) the IMF found that each 1% of GDP's worth of spending cuts would reduce GDP by 1% – a one to one ratio.
Systems thinker Donella Meadows, the founder of the Vermont-based organisation that I now direct, cut to the heart of GDP's limitations when she wrote: "If you define the goal of society as GDP, that society will do its best to produce GDP.
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Every 1%-of-GDP's-worth of fiscal expansion throughout the region, including China and Japan, would boost growth by two percentage points in the crisis countries.
In fact, similarly to Farrelly's GDP, Fox's prioritarianism ignores physical complexities such as gene-environment interaction.
After all, it is only a matter of time before China's GDP overtakes America's.
Influential factors of energy consumption in the food industry include population growth rate, GDP, agriculture's share of GDP, food waste, technologies, and agricultural investment.
After the first quarter's GDP blastoff, the Fed's March tightening seems an idle gesture.
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