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Share of the world's GDP is a flawed metric. It tells us we're getting a smaller slice, but it doesn't tell us if the pie grew or shrunk. If the EU grew by 50%
by lbreakjai 10mo ago
Share of the world's GDP is a flawed metric. It tells us we're getting a smaller slice, but it doesn't tell us if the pie grew or shrunk. If the EU grew by 50% while India and China became 200% richer, then on paper the share of the world's GDP would be dramatically lower, while everyone would be better off.
I don't disagree with the sentiment you expressed at all though.
- mlrtime 10mo agoOk but did that happen? And that's always been the case, what happens when EU shrinks to <1% of global GDP?