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Yes, but only total GDP goes up. GDP per person goes down.
by gadders 1y ago
Yes, but only total GDP goes up. GDP per person goes down.
- arrowsmith 1y agoGDP per capita in the UK is still lower than it was in 2008. Gen Z have never experienced economic growth. They don't know what it means to get richer.
- gadders 1y agoI remember when Gordon Brown promised "An end to boom and bust economics." I didn't that meant realise no more booms. In the 90s in the UK, skilled working class tradesmen making huge amounts of money was such a stereotype that there was even a comedy character about it. I can't imagine seeing that happen again. https://en.wikipedia.org/wiki/Loadsamoney https://en.wikipedia.org/wiki/Loadsamoney
- deleted 1y ago[deleted]
- 12ian34 1y agoNot true in isolation. It depends on the productivity difference between the existing average and those being added.
- gadders 1y agoSo if you add more people, and gdp per capita goes down, you think it isn't due to the people being added?