4 ms·
> negate a recession What do you think GDP actually measures? A hurricane that kills 1000 people increases GDP for instance.
by Grimburger 4y ago
> negate a recession
What do you think GDP actually measures?
A hurricane that kills 1000 people increases GDP for instance.
- pestaa 4y agoGross Domestic Product is not divided by population. GDP per capita is what you're referring to?
- Phrenzy 4y agoThe aftermath of a large storm requires a lot of clean up. The clean up costs would be added the the GDP.
- thehappypm 4y agoNot even a little, storms destroy tons of productive businesses.
- Grimburger 4y agoNo, I'm referring to the money spent on cleanup and rebuilding, not X lives lost reducing the denominator in GDP per capita. Disasters are great for GDP as a metric on a medium term scale. Not so much for people or wellbeing. This is basic econ stuff.