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One problem is that economic theories are all based on dozens of underlying assumptions, many of which are baseless and false. Further, these flawed economic t
by StanislavPetrov 10y ago
One problem is that economic theories are all based on dozens of underlying assumptions, many of which are baseless and false. Further, these flawed economic theories used incredibly flawed metrics (like GDP) to measure growth. They ignore real costs, like the massive environmental destruction caused by transporting items around the world. An accurate formula would attribute a tangible, financial value to the finite resources of the earth (the environment) upon which we all depend on to survive, and calculate those costs when determining whether or not "free trade" in the aggregate was actually beneficial. This doesn't even address the massive costs incurred by wars and policing needed to maintain safe and stable transit routes around the world, or the secondary and tertiary costs associated with these activities.
- eru 10y agoJust charge a tax on eg carbon dioxide emitted etc, and the market price of goods will reflect their ecological impact.