3 ms·

> GDP can in some ways be thought of as a measure of conversion of natural resources into monetary capital. How so? When I pay my accountant to do my taxes, i

by runeks 6y ago

> GDP can in some ways be thought of as a measure of conversion of natural resources into monetary capital. How so? When I pay my accountant to do my taxes, it adds to GDP. How is this “conversion of natural resources into monetary capital”?

criddell 6y ago
If I pay you $1 trillion to write a song and you pay me $1 trillion to draw a picture, we have just increased the GDP by $2 trillion yet nobody is better off.
- xyzzyz 6y ago
  You would never do it, though, because you’d owe whole bunch of money to the government.
  - criddell 6y ago
    If we do this under our respective businesses and our net profits are both $0, what money would be owed?
  - frongpik 6y ago
    If you owe 30k to irs - you have a problem. If you owe 30 trillions - irs has a problem.
- pram 6y ago
  Well now you have a song and they have a picture.