For Americans living through the recent months of crisis, some of the latest economic data may come as a surprise. Gross Domestic Product (G.D.P.) over the past six months remained far above what we could have achieved even a decade ago. What good does G.D.P. And for many on the right-of-center especially, a rise in living standards equals success, which conveniently supports the conclusion that the economy has been delivering well.

Source: New York Times August 27, 2020 20:25 UTC