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> what should the central planners give as metrics? Is there anything that works? According to Goodhart's Law, no. As he originally explained it: "Any observed
by gnode 7y ago
> what should the central planners give as metrics? Is there anything that works?
According to Goodhart's Law, no. As he originally explained it: "Any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes."
Metrics of GDP, inflation, and employment are commonly used in macroeconomics to approximate quality of life, but they're subject to the same problem. For instance, you may be able to increase GDP and employment by increasing violent criminality, expanding the markets for private security, insurance, weapons and prisons, but harming general quality of life.