Countries, which struggle to grow their GDP and lack ideas, should try to get a master-class from Conservatives here in UK. Their innovativeness has no limits. The trick is: start counting in drug dealing and prostitution business and you will get about 1% annual GDP increase and all the newspapers will be writing that your country is recovering and Government’s economic policies are working. Office for National Statistics can also advise on how to calculate the size of that business 4-5 years ago, so you can revise your past GDP records and make the economy look even greater. So, all the drug dealers and sex traders – well done!
p.s. if it is not obvious, I am deeply sad that GDP which as a tool to measure economy was never ever perfect, is crippled even more and made totally meaningless (except to politicians, of course, who use it as a success indicator of their policies). By including such socially harmful ‘business’ in national domestic product basket UK is basically legitimizing this business and positively acknowledging its impact on economy. I just wonder, if this business is so productive, will then government come up with special stimulus programmes to keep the productive sector growing?