<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><header class="module article_header" style="margin: 0px 10px 6px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; box-sizing: border-box; position: relative;"><div data-module-id="14" data-module-name="article.app/lib/module/articleHeadline" data-module-zone="article_header" class="zonedModule" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline;"><div class=" wsj-article-headline-wrap" style="margin: 0px 0px 25px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline;"><div class="category" style="font-size: 14px; margin: 0px 0px 2px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; font-family: "Retina Narrow", "Whitney SSm", sans-serif; text-transform: uppercase; color: rgb(153, 153, 153); line-height: 17px;"><span class="article-breadCrumb-wrapper" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; background-position: initial initial; background-repeat: initial initial;"><ul itemscope="" itemtype="http://schema.org/BreadcrumbList" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; list-style: none; display: inline; background-position: initial initial; background-repeat: initial initial;" class=""><li class="article-breadCrumb" itemprop="itemListElement" itemscope="" itemtype="http://schema.org/ListItem" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; display: inline; background-position: initial initial; background-repeat: initial initial;"><a itemprop="item" href="https://www.wsj.com/news/life-arts/books" style="margin: 0px; padding: 0px; vertical-align: baseline; color: rgb(0, 128, 195); text-decoration: none; outline: none; background-position: initial initial; background-repeat: initial initial;" class="">BOOKS</a> </li><li class="article-breadCrumb" itemprop="itemListElement" itemscope="" itemtype="http://schema.org/ListItem" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; display: inline; background-position: initial initial; background-repeat: initial initial;"> <a href="https://www.wsj.com/news/types/bookshelf" class="flashline-category" itemprop="item" style="margin: 0px; padding: 0px; vertical-align: baseline; color: rgb(0, 128, 195); text-decoration: none; outline: none; background-position: initial initial; background-repeat: initial initial;">BOOKSHELF</a></li></ul></span></div><h1 class="wsj-article-headline" itemprop="headline" style="margin: 0px 0px 8px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; font-family: "Escrow Condensed", "Chronicle Display", serif; line-height: 1em;"><span style="font-size: 20px;" class="">Review: Dismal Statistics</span></h1><h2 class="sub-head" itemprop="description" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; font-weight: 300; vertical-align: baseline; line-height: 27px; letter-spacing: -0.01em;"><span style="font-size: 14px;" class="">Is Gross Domestic Product—the preferred measure of growth for most economists—still useful for gauging the health of economies? Diane Coyle reviews ‘The Growth Delusion’ by David Pilling.</span></h2><div class=""><br class=""></div><div class=""><div class="byline" style="margin: 0px 150px 2px 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; position: relative;"><span style="margin: 0px; padding: 0px; border: 0px; outline: 0px; font-style: italic; vertical-align: baseline; display: inline-block; line-height: 27px;" class="">By</span> <div class=" author hasMenu" data-scrim="{"type":"author","header":"Diane Coyle","subhead":"The Wall Street Journal","list":[]}" itemscope="" itemprop="author" itemtype="http://schema.org/Person" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; font-style: italic; vertical-align: baseline; display: inline-block; line-height: 27px; position: relative;"><span itemprop="name" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline;" class="">Diane Coyle</span></div></div><time class="timestamp" style="margin: 0px 0px 4px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; display: block; line-height: 2.2rem;">Feb. 4, 2018 3:40 p.m. ET</time><div id="share-target" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline;" class=""></div><div class="wsj-snippet-body" style="margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; position: relative;"><p style="margin: 0px 0px 17px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; line-height: 27px; word-wrap: break-word;" class="">Is Gross Domestic Product, GDP, history? Judging by the torrent of recent books proclaiming the end of its usefulness, such as Ehsan Masood’s “The Great Invention” (2016) and Eli Cook’s “The Pricing of Progress” (2017), its days are surely numbered. Like most other offerings in this genre, David Pilling’s “The Growth Delusion” celebrates the predicted demise of our headline measure of how well the economy is doing—and along with it the end of Western capitalism’s obsession with “endless” production and consumption. Unlike most of the others, he has some constructive suggestions for replacement measures of economic success,...</p><div class=""></div><div class="">Behind paywall</div></div><div class="wsj-snippet-login" style="font-size: 10px; margin: 0px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; font-family: Retina, "Whitney SSm", sans-serif;"><div class=""><br class=""></div></div></div></div></div></header><div class="">
<div style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">=======================================================<br class="">“The growth in CO2 emissions closely follows the growth in Gross Domestic Product (GDP) corrected for improvements in energy efficiency.”<br class=""><br class="">P. Friedlingstein, et al. “Update on CO2 emissions.”<br class="">Nature Geoscience. Published online: 21 November 2010<br class=""><br class="">---------------------------------------------------------------------------------------------------<br class="">“Changes in world GDP (WGDP) have a significant effect on CO2 concentrations, so that years of above-trend WGDP are years of greater rise </div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">of CO2 concentrations.” </div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;"><br class="">Granados et al. Climate change and the world economy: short-run determinants of atmospheric CO2. </div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">Environmental science & policy 21 (2012) </div></div>
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