4 ms·
I think I agree with the central premise, that labor productivity is (and is increasingly) a wacky metric. I’m not sure GDP is as wacky right now, e.g. https:/
by theptip 4y ago
I think I agree with the central premise, that labor productivity is (and is increasingly) a wacky metric.
I’m not sure GDP is as wacky right now, e.g. https://omnibudsman.substack.com/p/all-poverty-is-energy-poverty https://omnibudsman.substack.com/p/all-poverty-is-energy-pov...
I do strongly agree that we should be clear that we care about GDP because it lets us buy more quality of life (in many cases, literally more life), and if GDP diverged from providing that we should stop caring about GDP
I’m not sure I buy that the right metric is hedonic well-being though; the issues with Mills’ Hedonic Utilitarianism are well-known, and I don’t want to prescribe heroin or wireheading for everyone to maximize their subjective happiness. I think some metric of Eudaimonic Utility is probably more what we want.
What are the factors of human flourishing? How do we measure and improve those? Things like health, education (in the broadest sense including trades/crafts), economic security/opportunity, physical safety, community, etc.
One can easily imagine higher-GDP configurations that trample most of the populace on the above, and we should not choose those merely because “growth is good”.