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Of course I am trivially right, I posted a trivial reply to something I was only nitpicking about (and I told the op I agreed, just not with GDP). No one offer
by Judson 16y ago
Of course I am trivially right, I posted a trivial reply to something I was only nitpicking about (and I told the op I agreed, just not with GDP).
No one offered up inflation adjusted GDP, and my point, which was very simple, though long winded, was that you simply can't say "Increases in GDP make the world better".
Look at zimbabwe. Their GDP is Hundreds of Trillions of Zimbabwe dollars, because they print a 1 Trillion dollar note.
To be more fair, the OP would have been better off using your food example instead of saying "GDP rose". I wasn't arguing that we are worse off today than 1929, just that it isn't because of an increase in GDP. If the currency wasn't inflated, we could get better off with GDP staying constant, through productivity gains.