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> that's "economic activity" True > but it sure as hell isn't the productivity that GDP says it is No, because GDP is just a measure of economic activity, no
by cabalamat 11y ago
> that's "economic activity"
True
> but it sure as hell isn't the productivity that GDP says it is
No, because GDP is just a measure of economic activity, not useful economic activity.
- alanwatts 11y ago>GDP attempts to measure the “use” economy, i.e., the value of finished goods and services ready to be used by consumers, business and government. GDP is similar to the “bottom line” (earnings) of an accounting statement, which determined the “value added” or the value of final use. https://en.wikipedia.org/wiki/Gross_domestic_product https://en.wikipedia.org/wiki/Gross_domestic_product I would agree that GDP is not really a measure of useful economic activity. But if that is so, the question begs, what practical use is the metric of GDP in the first place?