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> Two persistent myths in political economy and the media are that changes > in real GDP are a synthetic indicator of economic growth, and that economic > growth necessarily means more jobs and less poverty. Hi Jurriaan: What statistical measure is a better indicator of economic growth than GDP? > As an ideology, the two myths have a surface plausibility, because in > order to be able to distribute more incomes as such, the size of the total > cake has to grow. It's another Smithian fallacy. Theoretically, it's also tied I think to the assumption of Say's Law. > Poverty gap in US has widened under Bush It might be surprising, then, from a Supply-Side economic perspective. In solidarity, Jerry
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