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These kind of industries add no wealth. They reduce the productivity of the economy.
by konschubert 3y ago
These kind of industries add no wealth.
They reduce the productivity of the economy.
- renjimen 3y agoProductivity is a narrow metric for the success of society. Without these kinds of regulatory non-productive industries you would likely have fewer and worse social services, such as roads and the police. You would also be exposed to more risks in your daily life, such as pollutants and poisons. In the long term, these industries can allow for safer and more efficient societies.