3 ms·
You're going to be very hard pressed to find any data to support your view. GDP growth has basically nothing to do with quality of life. For that, on the econ
by mdorazio 6y ago
You're going to be very hard pressed to find any data to support your view. GDP growth has basically nothing to do with quality of life. For that, on the economic side, you would look at median real GDP per capita adjusted for PPP. For example, [1]. Raw GDP growth could boost that over time, or it could all flow to a minority of people and leave the majority of the population worse off, or it could go hand in hand with price inflation and corresponding drop in PPP, or your population could be growing just as fast as your GDP, etc.
Consider also [2], which adjusts a common measure of general citizenry well-being for inequality. Japan routinely is in the top 5 on this list while countries with much higher GDP growth are not.
As a third point, keep in mind that HN and reddit favorite "life is best here country" Norway rarely tops 2% GDP growth, and a big chunk of that is attributable to oil exports. If your population is relatively stable and sufficiently developed, you really don't need GDP growth to improve quality of life, you just have to properly invest your GDP in the right places.
[1] https://en.wikipedia.org/wiki/Life_Quality_Index https://en.wikipedia.org/wiki/Life_Quality_Index
[2] https://en.wikipedia.org/wiki/List_of_countries_by_inequality-adjusted_HDI https://en.wikipedia.org/wiki/List_of_countries_by_inequalit...