Wait, Don’t Most Of Us Realize GDP Doesn’t Measure Quality Of Life?

I thought we were past this discourse.

Certain people who love and embrace “the free market” and talking about “what the markets are doing” like to point to very aggregate numbers like “unemployment rate” or “GDP growth” or “jobs created” and say, “The economy is doing very well!” The thing is: those are egghead numbers, collected in the aggregate and not understood very well by most people, and many “indicators of economic success vs. ruin” are understood better as a binary 0–1 paradigm. It’s the same as fertility vs. miscarriages, honestly. If you have a living child, and parenthood is your goal, you’re a “1.” If you don’t, you’re a “0.” If you want/need a job and lack one, you’re a “0,” whereas someone with a job is a “1.” Some number like “3.8%” means nothing to a job-seeker.

Good article here:

Opinion | Why Voters Aren't Buying Biden's Boasts About Bidenomics

Two good pull quotes. First one:

The mortal enemy of Bidenomics isn’t Donald Trump; it’s a reliance on aggregate and average…