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I have written about this before on HN. Forget about GDP or PPP. What really matters for quality of life is local currency median income. If it is rising at
by throwaway2037 3y ago
I have written about this before on HN. Forget about GDP or PPP. What really matters for quality of life is local currency median income. If it is rising at a good rate above inflation levels, then your quality of life is getting better. Nothing else really matters at the ground level.
- cman1444 3y agoI understand that "at the ground level" that's all that matters. But these statistics are very useful for examining the economic heft of an entire country in the context of geopolitics. Of course if you don't care about things like that (like most people don't and have no reason to in their everyday lives) then you're correct it doesn't matter. Every once in a while big things happen though (world wars break out, trade deals are signed, etc.) and in those cases it can pay to have the largest GDP.