GDP alone is not the best measure for comparing economies

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The National
GDP alone is not the best measure for comparing economies

I GROW tired of hearing various spokespersons in this election telling us that the UK has the fifth (or the sixth) largest economy in the world. I am also impatient to hear any interviewer responding to that confident claim by pointing out that if we are making comparisons between countries, GDP (or “Gross Domestic Product”) is not the most appropriate statistic to use, because it takes no account of the size of a country’s population.

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The National
GDP alone is not the best measure for comparing economies