GDP and the Fruits of Labour
The capitalist class and its economic experts talk as if the rate of growth in GDP is the indicator of the economic health of the country. However, life experience shows that growth in GDP does not guarantee improvement in the standard of living of the workers, peasants, artisans and others who toil to produce the GDP.
Crores of workers become poorer whenever the movement in their wages lag behind the rate of increase in the prices of consumption articles. It makes no difference to them whether GDP has grown by 5% or by 10%.
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