4 ms·
Are they using the same methods for GDP in both time periods? I doubt it.
by cheez 16y ago
Are they using the same methods for GDP in both time periods? I doubt it.
- epistasis 16y agoPer capita is not a great metric, especially since GDP is not distributed per capita across the country, and there are many ways of measuring GDP. Even bad metrics can be better than nothing, and they can also be worse than nothing, but if you're going to quantify it, GDP is probably the only way to go. Based on my limited knowledge of 1930, I'd still much rather be living in 2011. Maybe not 6x, but at least 1.5x more. Back then they didn't even have Turing machines down on paper, much less actual physical hardware...
- guygurari 16y agoThere's more than one way to use GDP. I think that, for describing standard of living, median GDP would be better than average GDP (= GDP per capita). Averages are sensitive to outlier performance. This is important when the distribution follows a power law, as in the case of wealth distribution.