Quote from: DhaniBoy on October 19, 2014, 09:51:17 AM

Quote from: zyzzbrah on October 11, 2014, 12:42:18 PM

Quote from: KonstantinosM on October 11, 2014, 06:43:00 AM

Simple question. From where I'm standing it seems to be doing neither so I'd like to hear some facts and perhaps some opinions.

Doesn't matter, all these macroeconomic data improvements only satisfy the wealthy, most people will go on wit their shitty lives.
Economic growth has nothing to do with living conditions in a country. Economic growth is irrelevant. Employment rates and personal debt rates matter

course of a country's economic growth is very influential in the welfare and growth of the business sector in the country, with a growing economy will give rise to new entrepreneurs that will improve the welfare of the people in that country, with the emergence of new entrepreneurs will open new jobs, hopefully with economic growth will be in line with the increase in social welfare ...

Generally speaking the rate of economic growth has a positive coloration with the overall standard of living in a country. This is due to the fact that as GDP rises, more goods and services will have been produced (this is the definition of GDP) so more labor hours will have to have been used to produce the additional goods/services. More labor hours means more income for the working class.