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Can GDP be gamed and overemphasized? Yes. Is America gaming and overemphasizing GDP? I don't think so. We have all kinds of economic measurements, and the one
by dragontamer 3y ago
Can GDP be gamed and overemphasized? Yes.
Is America gaming and overemphasizing GDP? I don't think so. We have all kinds of economic measurements, and the one most people seem to be discussing today is inflation.
As long as we don't go stupid and braindead, and consider the overall economic picture, we'll do fine. We also can't ignore the best data that's collected or consider it conspiracy-laden fakes. But we also need to have enough skepticism to make sure our numbers are legitimate.
There's certainly people who fail on both sides. Overly trusting one number (ignoring all others) for the sake of their arguments. Or alternatively, ignoring inconvenient numbers (well, inconvenient for their side of the argument).