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The need to be “business friendly” to preserve growth may be interpreted as open season for all kinds of anti-poor, pro-rich policies (such as bailouts for over indebted corporations and wealthy individuals) that enrich the top earners at the cost of everyone else, and do nothing for growth. Even the IMF, so long the bastion of growth-first orthodoxy, now recognises that sacrificing the poor to promote growth was bad policy. It may not be an accident that many of the winners of globalisation were ex-communist countries that had invested heavily in the human capital of their populations in the communist years (China, Vietnam) or countries threatened with communism that had pursued similar policies for that reason (Taiwan, South Korea).
https://www.thehindu.com/opinion/op-ed/gdp-is-a-means-not-an-end/article29760592.ece?homepage=true
