The US has some of the highest GDP per capita on earth but that doesn’t mean it (or its economy, if you don’t define economy just as stock market go brrr) is doing well.
As in, doing worse economically. In this context, where that’s clear, it seems like the wording holds up.
(or its economy, if you don’t define economy just as stock market go brrr)
GDP measures actual trade more than the stock market. That being said, yes, it’s a litmus test, albeit a decently well supported one. The main places it breaks down, in terms of predicting people’s lifestyles, is where there’s major banking hubs (Singapore, Seychelles, Ireland for a while).
Doing Worse is subjective.
Higher GDP ≠ Doing Better.
The US has some of the highest GDP per capita on earth but that doesn’t mean it (or its economy, if you don’t define economy just as stock market go brrr) is doing well.
As in, doing worse economically. In this context, where that’s clear, it seems like the wording holds up.
GDP measures actual trade more than the stock market. That being said, yes, it’s a litmus test, albeit a decently well supported one. The main places it breaks down, in terms of predicting people’s lifestyles, is where there’s major banking hubs (Singapore, Seychelles, Ireland for a while).