This graphic (circulated by Bridget Doran on LinkedIn) neatly sums up the problem with the simple message that growth needs to be prioritised & measured via a nominal GDP measure.
In this sense it reflects a heckle reported by Anand Menon nearly a decade ago, during a lecture on GDP & the problems of growth:
'That’s your bloody GDP. Not ours'!
The simple truth that growth is unevenly distributed is often lost in policy discussions!
