> It's well known that GDP is not a good measurement for common people.
It has many flaws, but can you name a better one?
> that doesn't mean the common people are doing as well as the GDP suggests.
Nobody who understands GDP would say everyone is doing as well (or poorly) as GDP suggests. Some people do better, some worse.
But people in places with higher GDP reliably do better. Visit a poor or middle-income country; the difference is unmistakeable and this debate becomes absurd.
Inequality is a major problem in high-GDP countries; that doesn't mean GDP is meaningless.
It has many flaws, but can you name a better one?
> that doesn't mean the common people are doing as well as the GDP suggests.
Nobody who understands GDP would say everyone is doing as well (or poorly) as GDP suggests. Some people do better, some worse.
But people in places with higher GDP reliably do better. Visit a poor or middle-income country; the difference is unmistakeable and this debate becomes absurd.
Inequality is a major problem in high-GDP countries; that doesn't mean GDP is meaningless.