Can you specify what you mean with “2.7x is a ridiculous number”?
I ask because it does happen that economies grow like that in a fairly short amount of time. For example, since the year 2000:
China’s GDPpc 2.7x’d about 2.6 times
Vietnam’s did it ~2.4 times
Ethiopia’s ~2.1 times
India’s ~1.7 times
Rwanda’s ~1.3 times
The US’s GDPpc is on track to 2.7x from 2000 in about 2029, assuming a 4% annual increase
So I assume you don’t mean something like “2.7x never happens”. Do you mean something more like “it’s hard to find policies that produce 2.7x growth in a reasonable amount of time” or “typically it takes economies decades to 2.7x”?
I think I captured my intended meaning fairly well with my ending comment:
“If, as the more accurate model suggests, GDP is only making up a small piece of the total, then that suggests it’s far more likely that if a country were to take the same effort that would be required to triple their gdp, and put those resources instead into the other variables, they’d get a far larger return.”
If you’re asking because you didn’t find that convincing though, I’m happy to elaborate.
Can you specify what you mean with “2.7x is a ridiculous number”?
I ask because it does happen that economies grow like that in a fairly short amount of time. For example, since the year 2000:
China’s GDPpc 2.7x’d about 2.6 times
Vietnam’s did it ~2.4 times
Ethiopia’s ~2.1 times
India’s ~1.7 times
Rwanda’s ~1.3 times
The US’s GDPpc is on track to 2.7x from 2000 in about 2029, assuming a 4% annual increase
So I assume you don’t mean something like “2.7x never happens”. Do you mean something more like “it’s hard to find policies that produce 2.7x growth in a reasonable amount of time” or “typically it takes economies decades to 2.7x”?
I think I captured my intended meaning fairly well with my ending comment:
“If, as the more accurate model suggests, GDP is only making up a small piece of the total, then that suggests it’s far more likely that if a country were to take the same effort that would be required to triple their gdp, and put those resources instead into the other variables, they’d get a far larger return.”
If you’re asking because you didn’t find that convincing though, I’m happy to elaborate.