Incorrect. More money =&gt; inflation[1].<p>GDP growth is <i>more total overall spending, plus certain adjustments, in real, constant currency units</i>.  That is, inflation adjusted.<p>The problems around GDP tend to be that:<p>1. It discounts nonfinacialised quality-of-life improvements.<p>2. It neglects the negative costs of financialised quality-of-life <i>detriments</i>.<p>I believe that the Wikipedia article links to several alternative measures of GDP.  I find Herman Daly&#x27;s discussion of these pretty good, or you might check to see what the WorldWatch Institute&#x27;s come up with, to name another likely source.<p>________________________________<p>Notes:<p>1. So, you might ask, what of QE, why all this money and no inflation?  Good question, and people are pursuing that. My theory is that a) the money&#x27;s largely gone to banks and large institutional investors, b) see Robert Gordon, there&#x27;s a long term secular decline in growth, so they&#x27;re looking for <i>alternative</i> investments, resulting in c) Gee, stock markets and housing have been going gangbusters, but isn&#x27;t that just asset price inflation, i.e., inflation on Stuff Rich People Buy?  Seems fairly likely, particularly if you plot the Dow or S&amp;P 500 average against the Fed&#x27;s balance sheet (proxy for money supply &#x2F; QE.  Head over to the St. Louis Fed&#x27;s FRED plotting toy[2] to see for yourself.\<p>2. It&#x27;s actually a pretty cool toy. The sort of thing you might imagine a megolomanic conspiracy controlling the global money supply to come up with.[3]<p>3. I kid, I kid. It&#x27;s the lizard-men.