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Couple of thoughts on this. 1. GDP would still be useful to show growth in the same community over time. 2. It sounds like an edge-case, and when talking on n
by KaoruAoiShiho 9y ago
Couple of thoughts on this.
1. GDP would still be useful to show growth in the same community over time.
2. It sounds like an edge-case, and when talking on national scales across most of the big economies very few countries actually operates like that to a significant degree. GDP is of not too precise but still pretty alright on a big picture level.
3. If there is a demand for it an adjuster can be made. Well I'm not an economist so there might already be one. I'm sure someone thought of this at some point.
4. GDP values are not cumulative, so even if there's an error in one year it does not stack and fixes itself in future years.
- fjsolwmv 9y agoA recent trend here on HN is complaining about the loss of free-range childhood. Quality of life is dropping in this dimension, but it isn't seen in GDP.
- KaoruAoiShiho 9y agoIt'll be in GDP eventually when the child ends up less productive.