#464: When A Poor Country Gets A Lot Richer*




Planet Money show

Summary: <p class="MsoNormal" style="margin-bottom: 10.0pt;"><span style="font-size: 10.0pt; font-family: Verdana;">*Note: The country is only getting richer on paper, but that change may make a difference in the real world.*<p></p></span></p><p class="MsoNormal" style="margin-bottom: 10.0pt;"><span style="font-size: 10.0pt; font-family: Verdana;">People talk about GDP as if it means something solid, as if it's a mathematically derived and agreed upon fact. But in conversations we've had in the last few weeks, we've become more convinced that GDP is a wobbly fact. It's malleable, and it's mushy.<p></p></span></p><p class="MsoNormal" style="margin-bottom: 10.0pt;"><span style="font-size: 10.0pt; font-family: Verdana;">GDP can change in a day. And when it does — even when it's a statistical illusion — that illusion can still have a major impact on millions of lives.<p></p></span></p><p class="MsoNormal" style="margin-bottom: 10.0pt;"><span style="font-size: 10.0pt; font-family: Verdana;">On today's show, Nigeria is about to change the way it calculates its GDP. The change will likely make Nigeria the leading economy in Africa, and it could be a big boost for the Nigerian entrepreneurs behind Pledge 51, a mobile app company based in Lagos.<p></p></span></p><p class="MsoNormal"><span style="font-size: 10.0pt; font-family: Verdana;">The guys behind Pledge 51 have found success with mobile apps like Danfo, a game which lets players pretend to drive the notoriously wild buses in Lagos. But to take their company to the next level, they want foreign investment. A boost to their country's GDP could bring in exactly the type of foreign investors they are hoping for.</span></p>