Wow! GDP increases as population increases. Amazing!https://twitter.com/lenagroeger/status/887689941794336769 …
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The lumpenproles don't understand per capita and it's a tragedy.
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'Per capita' is not a person. You can lower GDP per capita while everyone makes more money.
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It's a statistic, whose increase or decrease need not correspond with the change in wellbeing or income of actual individuals.
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Alright, I'm a curious fellow. How do you see decrease in GDP per capita as anything but a negative outcome (barring deflation of the USD)?
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Maybe he means that sometimes more GDP is not better. eg paying people to dig a hole and fill it back in again raises GDP but not utility
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Ex: 3 person economy, wages (2,3,4), Income/cap=3. Add low wage immigrant, give others a 0.5 raise. Wages (1,2.5,3.5,4.5), Income/cap=2.875
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Everyone richer, yet
income/cap - 8 more replies
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Also among things that don't help: increasing GDP but spending almost all of the increase on the surplus population (a la Greece)
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Wow, it's like SimCity with only one retarded variable, great graph
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When I was young I thought the key to development was increasing GDP while population stays or increases slower-->increased std of living
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