Re: Backed money/Mike Sproul

["Alan G. Isaac" <aisaac@xxxxxxxxxxxx>]

MR PHILIP DAVID CLARKE wrote:

> what do you think of the contention that a rising GDP means a
> rising Standard of Living

There is certainly no necessary (e.g., logical) link.
See e.g. the discussions in S. Lebergott's _Wealth and Want_.
But speaking pragmatically/historically, it has not been a
bad rule of thumb.

Alan Isaac

PS I assume you mean real GDP per capita, and that you are
referring strictly to the material standard of living.