Is GDP Per Capita is a "Garbage Metric"?

A lot of people have been challenging the notion that GDP is a good measure of the economy. Instead, they suggest, we should look at GDP per capita to determine whether life is getting better for individuals, rather than the country as a whole.But is GDP per capita an economic triumph or a "garbage metric"? In this 23-minute discussion, Smart Prosperity Institute https://institute.smartprosperity.ca/ economist Mike Moffatt and journalist Cara Stern talk to Armine Yalnizyan, Economist and Atkinson Fellow On The Future Of Workers, explore the limitations of GDP per capita as a measure of economic health and well-being. The conversation highlights the issues of income distribution, the influence of tax havens and oil-producing countries on GDP per capita rankings, and the need to consider factors such as productivity and demographic changes. The discussion also touches on the challenges of measuring the digital revolution's impact on GDP and the importance of collecting real-time data.Guest: Armine Yalnizyan https://twitter.com/ArmineYalnizyanThis podcast is funded by the Neptis Foundation https://neptis.org/Hosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinFunded by the Neptis Foundation https://neptis.org/