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The answer is “one value at a time”. In other words, if we take the time to ask the most important question in economics today: “How do we design a new economic system that will actually work?” It is increasingly recognized that GDP is too narrow a measure of economic success. However, you can’t just …

Sir, I love Martin Wolf. No matter the subject, it always has a positive orientation. The risks are frequently mentioned, but the perspective is always, sometimes subtly, optimistic. His commentary, “The global economy hums as politics turns” (January 10), is no exception. Despite the generally optimistic outlook, Mr. Wolf, at least publicly, fails to acknowledge …