4 ms·
Free is not counted in economic figures. For example, if all the in-house food prep, cleaning, child care and elder care was billed and paid, GDP would rise a l
by quantified 4y ago
Free is not counted in economic figures. For example, if all the in-house food prep, cleaning, child care and elder care was billed and paid, GDP would rise a lot, but nothing new would happen.
Economists confuse money for the economy, that's a widespread problem.
However, lots of specific tasks have been obsoleted by the internet. Some new ones have opened up. Probably it's a wash based on the fact that the net needs and capabilities per person have not changed, and by definition people generate all economic activities.