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I wonder why they keep comparing GDP growth of the USA and EU without noting that there is a 1% differential in population growth rate - meaningless as GDP growth can be, 2% growth in the EU and 3% growth in the US mean the same economic growth...

Un roi sans divertissement est un homme plein de misères
by linca (antonin POINT lucas AROBASE gmail.com) on Wed Jan 6th, 2010 at 04:17:19 AM EST
Possibly because they're too stupid to notice, or too craven to care.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Wed Jan 6th, 2010 at 05:46:07 AM EST
[ Parent ]
It always amazes me how few people connect the dots there.  I think it's because, from what I can gather, nobody really teaches growth theory properly anymore.  At least not beyond showing a couple models and moving on without actually explaining them.

Even people -- a few of my coworkers suffer this, even though they're plenty smart enough to get it once it's explained -- who should know better don't have the proper background to connect the dots and say, "Oh, well, what are the differences in population and productivity growth?"

There are plenty of people who well know what it means who are just looking to prey on people's ignorance.  I suspect the pundits are probably 95% tools, though.

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin

by Drew J Jones (myfriends@thisispancakes.com) on Sat Jan 9th, 2010 at 09:31:39 AM EST
[ Parent ]
For the people GDP/capita is more relevant then GDP, but who cares about the people?

The important thing appears to be to have maximum growth over-all so that there is more wealth to capture.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Wed Jan 6th, 2010 at 05:46:14 AM EST
[ Parent ]
I don't think there's any meaning at all to these figures as used by the punditry. They're like the familiar bits in the Latin mass, they give the ignorant faithful the feeling the priest is saying the right words properly.
by afew (afew(a in a circle)eurotrib_dot_com) on Wed Jan 6th, 2010 at 05:56:51 AM EST
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