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24 October, 22:27

If per capita GDP is growing, does that mean that everyone is better off economically?

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  1. 24 October, 22:28
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    The answer should be no. The GDP is a statistical per capita number that shows an average level, not a person by person case. Usually, since the production occurs among a small number of people, the rich get richer while the regular people remain regular or go into poverty. This does not mean that every person starts living better, just that the economy is growing.
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