Should-Read: Austin Clemens: Here’s why you should interpret GDP growth estimates skeptically: "No single number can really tell us much of anything about our immensely complicated $19 trillion economy...
...But we have been conditioned to think about the health of the economy in terms of total output growth. We know these common refrains: “A rising tide lifts all boats” and “growing the pie.” Economic plans are based on GDP growth targets. So, it’s understandable that so many people treat this one number as somehow sacred. But reverence for GDP is harmful because GDP growth can be a deeply misleading way to think about the health of our economy...
