3 ms·
As much as I feel like joining in the "well you see the world went wrong" kind of argument the reality is that GDP isn't a great measure for growth. Even the ec
by ladyattis 5y ago
As much as I feel like joining in the "well you see the world went wrong" kind of argument the reality is that GDP isn't a great measure for growth. Even the economist who came up with GDP felt it was a grossly incomplete metric and wanted to figure out how to add in the economic activity of homemakers as well into the equation but Congress like most organizations love numbers even if they're not that useful. So we're stuck with an incomplete metric that in most cases is a meaningless figure. Sure, you can pump the GDP up many ways to make it look like you're doing great all the while the average life of expectancy of your citizens slides back (see the US even before COVID).