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With temperature we know what feeling each measurement corresponds to. When a politician ernestly does everything he can to raise the GDP per capita of his coun
by meric 11y ago
With temperature we know what feeling each measurement corresponds to. When a politician ernestly does everything he can to raise the GDP per capita of his country often he is not aware of what real world consequences there will be. E.g. In China ten years ago everyone had motorbikes. Ten years later many families have cars but the roads are stuck in gigantic traffic jams and the the sky is covered in smog, and rivers covered in muck. GDP per capita and median incomes are going up, but is life getting better where people are getting more fulfilled and more contented?
- Gibbon1 11y agoWhen you get into engineering one finds a strong caution to beware of optimizing the metric at the expense of the process. In your instance, GDP is up, median quality of life is down. Far as I can tell ordinary economists are totally blind to this.
- JoeAltmaier 11y agoAccountants don't have the important columns in their spreadsheet: satisfaction, quality of life, health