5 ms·
Economic value has no strong meaning. When you mow your lawn yourself, does this action have economic value? If so, why is it not measured? If not, why does it
by temac 4y ago
Economic value has no strong meaning. When you mow your lawn yourself, does this action have economic value? If so, why is it not measured? If not, why does it have if you hire someone to do the work for you? Likewise for some jobs that are quite country specific: do old people who need a job to survive have more economic value than old annuitant people who can take care of their grand-children? What about reading a book? What about then discussing about said book with others? What if that discussion makes some students better? What if you are a teacher? What if you are a benevolent? What about writing a novel that would have had tremendous economic value if published but keeping it to yourself? What if that novel is then published after your death?
Productivity has no strong meaning either. How do you measure it? GDP PPP / worker / hour? What if it actually depends on externalities like the amount of carbon released in the atmosphere? What is actually a worker (back at the what is "work" and "economic value" point)? What if it counts destroying then rebuilding things (as-is)? What if it counts absurdly high health expenses? What if it counts absurdly high health expenses coming in part because some people illegal pushed for addictive drugs to be way over-prescribed by corrupting physicians?