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GDP is increasingly a poor measure of economic well being, as wealth inequality becomes so bad a handful of individuals capture the lion's share of growth.
by mjamesaustin 2y ago
GDP is increasingly a poor measure of economic well being, as wealth inequality becomes so bad a handful of individuals capture the lion's share of growth.
- slothtrop 2y agoGDP-per-capita is a thing
- NoGravitas 2y agoAnd highly misleading if there's significant income inequality.
- Sohcahtoa82 2y agoGDP-per-capita still doesn't capture inequality.
- slothtrop 2y agoLook at wages and household income. The wealthy don't rely on them, they have capital.
- deleted 2y ago[deleted]
- sheefrex 2y agoSometimes I like to think of GDP as a measure of economic (productive) power more than well-being. But other indicators are more important for the long-term, such as those on demographics, education, debt levels, etc. You probably don't want to sacrifice those for a transient boost in GDP.