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?
> 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?