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Interesting points you raise, I thought about calculating this by-hand, but then I realized that actual numbers are published by actual economists. Here are so
by AlanSE 8y ago
Interesting points you raise, I thought about calculating this by-hand, but then I realized that actual numbers are published by actual economists.
Here are some old figures:
https://tradingeconomics.com/ethiopia/gdp-per-capita-growth-annual-percent-wb-data.html https://tradingeconomics.com/ethiopia/gdp-per-capita-growth-...
In that year, GDP growth was 7.5%, but per-capita GDP growth was 4.9%. I could have some gaps in my knowledge of the meanings in these figures, but I think the difference roughly equates to what you speculate - that population growth eats some of the economic growth when viewed from the perspective of the individual.
Also important to note, I think that these are nominal, not real figures. So right now, I think we would reasonably expect sub-5% real per-capita growth. Even correcting for that I'm sure it's an astounding pace of improvement. It's hard to wrap your head around multi-year improvements in quality of life of that scale.
But there's a depressing side, that maybe some nations are actually contracting in per-capita real GDP.
- rgbrenner 8y agoThat's a real growth rate (not nominal). They have 15% annual inflation.
- ido 8y agoBut there's a depressing side, that maybe some nations are actually contracting in per-capita real GDP. I'm sure some countries are contracting, but not due to Ethiopia growing - the world economy is not zero-sum.