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Emeritus Prof Christopher May

Here's @sjwrenlewis arguing (rightly) that we should focus on GDP per capita when assessing the UK's economic performance not headline GDP... and then making the point that immigration can help the UK economic performance recover from the self-harm of Brexit.

However, the media & supine politicians seem unwilling to shift the story of the UK's plight away from one of blaming immigrants or ignoring the costs of Brexit.

We deserve better....

mainlymacro.blogspot.com/2025/

mainlymacro.blogspot.comCurrent UK stagnation may have many causes, but one we know about is the UK media. Plus why the UK definition of a recession is no longer fit for purpose.  In the UK the definition of recession used by most people is two successive quarters of falling GDP. This definition always involved a kn...
Mar 04, 2025, 09:12 AM·Public·Web
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@ChrisMayLA6 @sjwrenlewis

Don't think so. GDP per capita is just a mean - takes no account of the standard deviation (i.e. distribution) - could still have extreme inequality. Need to use it alongside Gini coefficient.

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Emeritus Prof Christopher May

@linuxgnome @sjwrenlewis

Agreed, although a while ago I did a 'quick & dirty' mash up of GDP/Capita & Gini Coeficient rankings and adding the latter to the former seemed to make little difference in the ranking of the UK which remained in the mid-20s....

But I *do* accept, as you say that GDP/capita does not include any measure on inequality (other then an aggregated notion regarding extreme levels)

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