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> "Let's say I pay you $10M to eat a pile of shit, then for kicks you pay me $10M to eat a similar pile of shit. You know what the end result is? The GDP has in
by throwawaylinux 4y ago
> "Let's say I pay you $10M to eat a pile of shit, then for kicks you pay me $10M to eat a similar pile of shit. You know what the end result is? The GDP has increased $20M, and we both have huge shit-eating grins".
If people were buying piles of shit for $10M, then that is what the GDP would be. That's not faking GDP.
- grecy 4y agoNo, the shit is free. People are just paying each other to eat it. It’s not literal, it’s just an illustration of how easily the gdp can be faked.
- throwawaylinux 4y ago> No, the shit is free. People are just paying each other to eat it. Still the same answer. Services are counted as production. > It’s not literal, it’s just an illustration of how easily the gdp can be faked. Of course it's not literal, but that's just not faking GDP. What do you actually think GDP is a measurement of?
- uoaei 4y agoThis interpretation of GDP requires that price is equivalent to value. Good luck convincing anyone, even hardcore free market essentialists, of that notion.