Should-Read: Austin Clemens: Here���s why you should inte...

Should-Read: Austin Clemens: Here���s why you should interpret GDP growth estimates skeptically: "No single number can really tell us much of anything about our immensely complicated $19 trillion economy...

...But we have been conditioned to think about the health of the economy in terms of total output growth. We know these common refrains: ���A rising tide lifts all boats��� and ���growing the pie.��� Economic plans are based on GDP growth targets. So, it���s understandable that so many people treat this one number as somehow sacred. But reverence for GDP is harmful because GDP growth can be a deeply misleading way to think about the health of our economy...