The Growth Delusion by David Pilling
Although the video shows me with the physical copy of The Growth Delusion, I actually digested this content via audiobook.
This book was not originally on my radar. In truth, I’d never heard of it before. But it popped up in one of the many sales run by Amazon Audible and I’m a sucker for a sale!
After listening to the audiobook, I was very impressed with the quality of the content and thought that this would be a great book to add to my mini home library for future reference, so I went a bought a hard copy.
About The Growth Delusion
In a nutshell, this book is all about GDP (Growth Domestic Product) and how we track and measure our economy.
The author, David Pilling, is a prize-winning reporter and associate editor at The Financial Times and reports on topics such as economics, business, and politics.
This book was also shortlisted for the Orwell Prize for Political Writing in 2019.
I myself have never taken much time to consider how the GDP of a country is calculated. I (quite wrongly) just assumed that if the GDP went up that was good, and if it went down that was bad.
However, I have learned from this book that even though GDP is a useful metric to have, it doesn’t always reflect the true reality of life.
Based on my assumption above, if our GDP is on the rise, we should all be getting richer and becoming happier, right? However, that isn’t always the case!
This book provides an overview of what comprises GDP and what doesn’t, as well as the pros and cons of the current calculation method.
Although this method is far from perfect, the book illustrated the complexity of trying to put a number on an economy.
The author does suggest a few other ways to try and get a more accurate figure; one that is a truer reflection of the wealth, health, and happiness of a nation, but in the process demonstrates how one single number will not be up to such a mammoth task.
Why is this important?
GDP is used to help gauge the size, health, and growth of a country’s economy.
A quote from the book states that “by fixating on GDP, experts are ignoring alternative models that better reflect reality and ushering policies that could even harm us.”
Who’s the book for?
This book will appeal to anyone who is interested in economics and finance. Although it may not be as valuable to those who are already up to speed with the current GDP calculation method and its pitfalls.
The Growth Delusion may also appeal to small and new investors.
I’ve recently become interested in learning more about investing, and learning more about GDP, how it works, and how it’s calculated has been invaluable to me, especially during these times of Coronavirus lockdown and worldwide economic turmoil.
However, if you’re not interested in any of those topics, then you probably won’t get much value out of this book. (To put it bluntly.)
What do I think of the book?
I think this is a great book, and the quality of the information it contains is off the scale.
I learned so much!
In the audiobook version, the narration is excellent. It’s very easy to understand and to listen to, which is important, as this is a complicated topic that could easily confuse the listener.
Have you read or listened to “The Growth Delusion?”
This book review is my personal opinion and experience of “The Growth Delusion.”
If you’ve read or listened to this book, share your thoughts in the comments section below. And don’t forget to give the book your own score out of 10 by using the Reader Rating Bar in the box above.