Excellent point. There is also the consideration that raw statistics on wealth generation mask the *quality* of economic growth that is occurring. Consider the blight of suburban sprawl. I'm often amazed when I drive along Long Island's Jericho Turnpike that all these hideous food franchises and other retail eyesores appear as valuable properties on the taxation lists. It is, of course, easy to caricature that as la-di-da stance -- since plenty of the world's poor would be willing to trade at least some of the scenic wonders around them for at least a few of American-style consumer comforts. But it's obviously a mistake to see GDP gains -- with all their blindness to negative externalities -- as the precise equivalent of gains in a society's quality of life.
Carl