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I think this is a result of looking at the mean vs. the median. While the average GDP continues to rise, the median remains stagnant -- only up 2.8% since 1999[
by davinic 7y ago
I think this is a result of looking at the mean vs. the median. While the average GDP continues to rise, the median remains stagnant -- only up 2.8% since 1999[0]!
The saying "never cross a river that is 4 feet deep on average" is applicable -- the skewness is a critical factor.
[0]: https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N
- TurkishPoptart 7y agoGDP has little to no indication as to whether people have a life worth living.
- FussyZeus 7y agoThe fact that it's mentioned at all in a discussion like this is a testament to how effective corporate media has been in convincing people to pursue economic growth at the cost of everything else. Who cares if the planets burning and suicides are up!? Don't worry about financial security and medical expenses! The NASDAQ thing went up! That's all that matters afterall, as long as the made up fuckin numbers are nice and big, have a party!