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Diane Coyle

GDP: A Brief But Affectionate History

Hay Festival 2014 , 

Why did the size of the US economy increase by three percent on one day in mid-2013? Or Ghana’s balloon by 60 percent overnight in 2010? Why did the UK financial industry show its fastest expansion ever at the end of 2008 – just as the world’s financial system went into meltdown? The answers to all these questions lie in the way we define and measure national economies around the world: Gross Domestic Product.