“Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.
This is known as ‘bad luck’.” - Robert Heinlein
First of all, let’s remember that the government does not really know what the GDP is. It’s only speculation, distorted facts, imagined number of workers and everything else is pulled out of political air.
IT’S ALL SMOKE AND MIRRORS.
Eventually the economy will be seen as a social problem, especially too many two income families. If one currently unemployed parent just stays home and raises kids, and especially homeschools them, a lot of economic and social problems can be solved.
Not only are agriculture, mining, construction,and manufacturing all engaged in the production of goods,but also, all of the so-called service industries center on goods. Service industries that are performed not as auxiliaries to the production,distribution,or ownership of goods, vitally depend on the use of goods in their rendition.
Whether or not an economy is in a state of economic progress, stagnation, or retrogression depends on whether or not the supply of capital goods is greater than the consumption of capital goods, not whether or not the economy is a service economy.