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> adding a zero to all measures of money Do you really think that nobody has ever thought of measuring inflation adjusted GDP?
by mr_toad 7y ago
> adding a zero to all measures of money
Do you really think that nobody has ever thought of measuring inflation adjusted GDP?
- roenxi 7y agoAdd a 0 to all the financial numbers and introduce price controls. No inflation then. Problem solved. As solutions go this is just as stupid and yet this is also a strategy that still gets tried (!) from time to time. The point I'm making is that the problem is living standards and prosperity. If we try to improve arbitrary single measures, like GDP or Gini, then the easy solution is pick something stupid that games the numbers then work it back towards the Overton window of ideas until it is mainstream enough that people don't understand why it is failing. The metrics to focus on are real outcomes like living standards which are - and this is the central part of my point today - not negatively affected by someone else in the city being filthy rich.