w15.
Politics’ most conspicuous failure to make sense of GDP consists in not realising that it is per capita GDP that is at stake here: aggregate GDP has no direct relevance whatsoever. This error was pointed out by the UK House of Lords Select Committee on Economic Affairs, “The Economic Impact of Immigration”, First Report of Session 2007–8, published 1 April 2008, Her Majesty’s Stationery Office, volume 1, chapter 1, paragraph 69. Also see Growth, Instrumentalism, Population.