Now growth of GDP/hr worked is another sensible indicator.
Sound familiar? So many S'poreans work long hours nowadays. Family structure is weak as recently recognised by the minister who overblow the Youth Olympics Games budget. S'pore even has a 'Eat with Family' day since early 2000s to encourage workers to dine with family.
"How often have you read about Eurosclerosis & how those poor Europeans suffer from low growth & high unemployment in their high-tax, inflexible, anti-entrepreneur welfare states? It is true that U.S. GDP has in recent years grown faster than EU GDP, but so has U.S. debt.
Moreover, if you look at growth of GDP per hour worked, Germany, France & America are virtually tied. How come? Americans work a lot more hours. Time with family doesn't count in GDP, but Europeans think it's important."-Clyde Prestowitz
Common sense don't seem common as with this indicator i'm now aware of. Consider it like km/litre of gas you get from a car.