Quote:
Originally Posted by iggy_oi
Uh huh. What is your point exactly?
I’m not gonna try and predict what you’re trying to say by reading an article written by someone else. I’m well aware our GDP is lower than that of the US. I’m also in favour of taking sensible steps to increase our GDP. Where I disagree with you is when you try to imply that GDP performance has no nuance to it, or at least that’s how I interpreted your statement. No one is saying that a we should be ignoring a declining GDP or pretending as though it trending in that direction shouldn’t be addressed.
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Well, first of all my original point was that GDP per capita is actually quite useful as a metric to measure our economy. You seemed to imply that you agree with Slava that it’s “meaningless”. That of course is ridiculous and the article articulates why it’s important. It may not be perfect, but it’s a tool that economists and govt’s use as a proxy for our economic performance.
Second, you seemed to imply that our GDP per capita problems were solely due to population growth. As the article states, numerator growth is also a problem, and one that has a direct link to conscious policy choices that we have made, and continue to make……
Things take too long here, our regulatory processes are too slow, and private capital has shied away from big projects that have a meaningful impact on GDP as a result.