View: A 7%-plus growth target is all very fine. But let's no

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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