5 ms·
There's a strong mentality of "anything good for GDP is good for the country" in the U.S. The constant stream of economic reports in the news (from "markets ral
by twh270 3y ago
There's a strong mentality of "anything good for GDP is good for the country" in the U.S. The constant stream of economic reports in the news (from "markets rallied today, with the S&P..." to the latest jobs report to what the Fed is doing this year); reporting other news in terms of how it affects the economy, etc.
When a single number becomes the single most important number the country measures, everything else takes a back seat. And that doesn't mean other things don't get any attention... it's just that spending time and money on things that don't have a direct (perceived) effect on GDP doesn't much happen.