Gross Domestic Product

March 14, 2019

A lot of decisions made by politicians tend to be justified by the importance of securing strong annual Gross Domestic Product (GDP) figures.

The success of a nation is often measured by the strength of its GDP.

And so it seems strange how few people will ever be taught, or fully understand, why the society in which they inhabit should be so beholden to such a singular statistic.

Over recent years there have been many attempts to explain the clear political schism that appears to have happened in Europe, America, and Britain. A schism that is more often than not referred to as the rise of populism, a rise that is treated with disdain from the bulk of the media and ruling class.

While there are many reasons for this schism, I believe a great deal of it can be put down to a difference in reverence held between both sides with regards to the import of GDP.

For the incumbent leaders, there is a continued belief that their decisions should be guided by the desire to increase GDP output. It is through this lens that they justify a number of the policies that are now facing scrutiny from the populists; most importantly immigration.

It is over this issue that the political and cultural debate will be won or lost in the coming decades.

And unless the incumbent leaders are able to remind the voting public as to the benefits of basing their decisions on the altar of increasing GDP, they will continue to suffer at the hands of the electorate and the rise of Populism will continue.

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