Let me pull you out of the morass of common economic beliefs and into nature’s reality. The way we measure economic growth as the basis of our prevailing religion of economics is lodged in a systematic confounding of consequence and cause, and thus leading to the much-bewildered depravity of reason in the assessment of human performance.
“Growth for the sake of growth is the ideology of a cancer cell.” — Edward Abbey
In the same way, you cannot evaluate the quality of a game of soccer by the number of goals scored, can you not evaluate the performance of people by its consequential data points (GDP or whatever floats your boat). Nor does a next game with the same number of goals scored to be the product of identical gameplay, in soccer or economics.
The number we derive is a consequence of gameplay, not the cause. And hence one cannot use consequence as the determination of cause. Like in math 2+2=4, yet 4 can be the product of many things other than 2+2. Assuming 4 can only be the product of 2+2 is the kind of delirium the experts of our current religion of economics engage in and promulgate to the innocent.
The critical question to ask is whether having a number to base human performance on is all that important. When we give a child a grade in school, is that any indication of how successful they are or will be? Can the same grade given to another child claim those kids must, therefore, be identical? Make-believe is at the heart of this economic foolery.
Hence, the saying,
Not everything that can be counted, can be counted on.
Real economic performance must be correlated with the strengthening of the evolution of humanity. As the smartest species on earth we will live the shortest, and some claim we will be extinct in as little as 1,000 years. Hence, the stick along which we should measure ourselves is not dumb and temporal wealth creation that serves few and in the majority of cases damages our collective strengthening, but we should measure ourselves along the strength of our renewability, to ensure we prolong the sustainability of humanity.
Money has lost most of its evolutionary merit (and hence its trust). To measure the flow of money is like watching someone pedal a bike hard, with that person along with hordes of cheering fans not realizing the chain is off the chainrings (of evolution). Entertaining for sure, practical in achieving progress not so much.