Monday, January 11, 2010

Per captia vs total

Finally, an American economist realizes that GDP means nothing on the scale of things. The only thing that matters is per-capita GDP. (Paul Krugman here)

This is a big day for America.

Tyler Cowen, I think makes a better point: It's not the derivative, it's the level that matters.

These debates remind me of some we used to have back at IIT. (Of course we did not know so much, but we did keep fighting with what little we did know).

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