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In contexts where living standards are important, we already talk about stuff like productivity, dollars-per-worker-hour and stuff like that. And in contexts wh
by dukeyukey 3y ago
In contexts where living standards are important, we already talk about stuff like productivity, dollars-per-worker-hour and stuff like that. And in contexts where absolute GDP is important, like international relations, we talk about that instead.
- green_man_lives 3y agoI am sure that's true among economists and sociologists. To the layperson (me), the way I usually hear it from other normies and in media, GDP per capita is the metric that translates to QOL. Unless you are listening to Planet Money or some niche econ-related media. Even then there's a lot of bad economics infotainment that uses GDP in this way.