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Food for thought: Put 20 people in a circle, each growing, cooking and eating their own meal. GDP=0 Put those same 20 people in the same circle, each growing, c
by PeterStuer 9y ago
Food for thought:
Put 20 people in a circle, each growing, cooking and eating their own meal. GDP=0
Put those same 20 people in the same circle, each growing, cooking but instead of eating their own 'buying' the meal from the person to the left for a fixed price. GDP>0
GDP isn't what it's made out to be.
- TeMPOraL 9y agoEvery measure we can come up with will have absurd corner cases and failure modes. The question is, if and how often those corner cases happen in the real world.
- lmm 9y agoThat's a known issue with a relatively small impact on GDP, and there are ways to fix it (imputed labour costs). All models are wrong, but some are useful; GDP is pretty good as far as it goes.