>>How do you reach this conclusion from the information presented? Why use GDP, a measure of the profitability of corporations, as a proxy for the standard of living instead of measuring the standard of living and seeing how it will be impacted directly instead of through many layers of abstraction.
You are asking a question that is outside of scope here. GDP per capita has been used as a proxy for standard of living for quite some time now.
That proxy only works as long as nobody's optimising for it.
> Any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes. — Charles Goodhart
GDP (£) per capita in London has doubled since 1998. Has the standard of living "doubled" for the median person? What about the standard of living for the poorest 1%? Has the productivity boost due to automation translated into correspondingly shorter working hours, or correspondingly larger compensation for work done?
What questions do you actually mean to ask, when you talk about GDP?
You are asking a question that is outside of scope here. GDP per capita has been used as a proxy for standard of living for quite some time now.