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He's saying that GDP is a measure of activity frequently misunderstood as a measure of wealth, and the broken windows fallacy is a conflation of an increase in
by thu2111 7y ago
He's saying that GDP is a measure of activity frequently misunderstood as a measure of wealth, and the broken windows fallacy is a conflation of an increase in economic activity with an increase in wealth. Same thing. Put another way, arguments about GDP growth are frequently fallacious, which I agree with.