View: A 7%-plus growth target is all very fine. But let's not get too colonised by this narrow index

The concept of GDP emerged from the devastation of the Great Depression and World War 2. Nobel-winning economist Simon Kuznets envisioned capturing all economic production by individuals, companies and the government in a single measure that would rise in prosperous times and sink in difficult ones. In his 1934 report, 'National Income, 1929-32' (bit.ly/45ol5cw) to the US Congress, he presented the original formulation of GDP.

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