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I always find it amusing when people of either party persuasion suddenly find qualms with economic metrics when their guy isn't in office. Republican leaning pe
by partiallypro 8y ago
I always find it amusing when people of either party persuasion suddenly find qualms with economic metrics when their guy isn't in office. Republican leaning people did it under Obama, and now Democratic leaning people are doing it under Trump. Because neither could explain the grown that was happening when their opponent was in office. I've seen the drum beats of "GDP is irrelevant now" from the Left ever since Trump won and the GDP numbers have generally been above estimates. Stats have become political footballs.
Economist have always known GDP isn't perfect, but it is the best measure we have or that has been devised. That is taught in the first few economic courses if you become an econ major when you're covering GDP.