With the IMF warning that the global economy is heading for the ditch again, the last thing Britain needs is another complacent Chancellor who thinks he’s got everything right.
First outing for our columnist The Matchstick Man, an economic illiterate who likes to ask awkward questions. This month: what is per capita GDP and how much do I get?
GDP is an arbitrary and abstract measure of economic performance, which reflects nothing about most people’s lives. But it’s ideology that determines which economic indicators we’re told to pay attention to.