Is a countrys GDP a good measure of its wealth?

Introduction

With 44 percent (44 ) of the global outsourcing market in the off shore sector for software and other business process currently being hosted by India , it has fast gained global recognition as the premier global destination for business process outsourcing . With generated revenues 1 .05 million as of March 2005 , India has greatly increased its economic output and per capita GDP . This economic growth of India has been heralded as one of the most amazing success stories of the 20th century The growth rates that India has been posting over the

past five years have made it one of the reasons why investments have risen in the area .Despite this unprecedented economic rise as indicated by the GDP of India the schism between the rich and the poor continues to grow Outsourcing , while creating a boon for the Indian economy , has also intensified that gap by creating new social classes and spawning new cultural changes . Therefore , because of the weak economic fundamentals of the Indian Economy , instead of narrowing the gap between the rich and the poor , it is instead widened and fewer jobs are created thus leading to more widespread poverty

India is not the only country that is posting record GDP levels as China has also continually increased its GDP increase since it has opened its markets in the 80s . While this may be seen as a measure of wealth it does not accurately reflect...