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The only other OECD developed country which has similar 20+ years period without recession is Poland. Even more impressive Australia population increases, while
by jakozaur 10y ago
The only other OECD developed country which has similar 20+ years period without recession is Poland. Even more impressive Australia population increases, while Poland population stays flat.
- haihaibye 10y agoWhy isn't it easier with population growth? GDP isn't adjusted by population, so even if the amount per person goes down (as it has been recently), so long as the total amount doesn't - no recession!
- jakozaur 10y agoExcuse me, but I meant what you said. With population growth it's easier to have GDP growth. If population is flat, you actually need to make ppl more productive: wages need to increase, company profits, etc. With newcomers, even if productivity per person decreases you still can have GDP growth.
- mamon 10y agoPoland had a recession very recently: Q4 2012 and Q1 2013 both had GDP falling down. Thing is, initially government published inaccurate data, showing no recession, but then, 3 years later they revised that data, showing we actually had recession.