Comment Comment by mrb "GDP PPP can increase whilst your economy contracts."Still, if PPP GDP increases, with all else being equal (eg. stable population) it would imply the standard of living is increasing.That is why PPP GDP captures a more accurate measure of the real world.Said another way, what truly matters isn't "GDP growth", but changes in purchasing power/quality of life. parent mrb 3 years ago
Still, if PPP GDP increases, with all else being equal (eg. stable population) it would imply the standard of living is increasing.
That is why PPP GDP captures a more accurate measure of the real world.
Said another way, what truly matters isn't "GDP growth", but changes in purchasing power/quality of life.