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Except that gdp has no conception of the impact of improved productivity. For example, cars are an incredibly inefficient and expensive transportation model fr
by danny_codes 4y ago
Except that gdp has no conception of the impact of improved productivity.
For example, cars are an incredibly inefficient and expensive transportation model from a capX and operating cost perspective. Switching to a public transit model would increase quality of life, but would shrink the gdp, because the operating costs for public transit are orders of magnitude less than car-oriented transit.
So even though public transit would improve efficiency, the 1st order effect would be to reduce gdp.