Zack Polanski (Green Party of England & Wales) argues that GDP should be downgraded as a measure of political economic success; he is 'much more interested in growing people’s mental health, growing our public services, growing cohesion of our communities'....

While possibly a quixotic aim given the continuing centrality of GDP measure to political discourse, it *does* play to people's distrust of GDP as a plausible measure of their own economic experience(s).

#economics #politics
h/t FT

@ChrisMayLA6 But what is "Gross Domestic Product"? Is it actually a meaningful number, or is it, as I suspect, an estimate of turnover added to an estimate of turnover added to an estimate of turnover...

@RussCheshire @ChrisMayLA6 The big issue with GDP isn't the figure itself, or how it is calculated.

The problem is that as a metric, it doesn't tell you very much, other than "the total of X is Y". There is no relation between GDP and the amount of tax raised. Or the welfare of the state or its residents.

If tomorrow Musk and Bezos decide to move their business to the UK, the GDP would go up enormously. While nobody would be a penny better off...