4 ms·
I understand GDP as a tool that was originally built to quantify how much a nation is producing, and in result focus the economy to increase that number. But l
by roberttod 4y ago
I understand GDP as a tool that was originally built to quantify how much a nation is producing, and in result focus the economy to increase that number.
But like many tools, at some point they expire and we need to move on. imo GDP is past that point already because it encourages production beyond anything else, when we should instead focus on consuming less and producing enough, and the right things so that we can be satisfied in our lives, not just burning gas for the sake of it.
To illustrate the obsurdity of it, the production of oil contributes to GDP, the burning of that oil contributes to GDP and then using carbon capture to capture the gasses released by the oil also adds to GDP. What's the sense in encouraging all that without qualifying that it should be enhancing people's lives?