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What is the point of GDP as a metric then? Who is the economy serving? Why have an economy if it's not improving quality of life to some extent. GDP is most of
by ChatGTP 3y ago
What is the point of GDP as a metric then? Who is the economy serving? Why have an economy if it's not improving quality of life to some extent.
GDP is most often used by the government of a single country to measure its economic health.
https://en.wikipedia.org/wiki/Gross_domestic_product https://en.wikipedia.org/wiki/Gross_domestic_product
- rafaelero 3y agoThere are a bunch of benefits of having economic power that doesn't relate to happiness. Power projection and resilience to hard times are some of them.
- ChatGTP 3y agoYou injected the word "happiness" I did not. All the tings you mentioned still should have a meaning, positive impact on the lives of the populace.
- cman1444 3y agoJust because GDP isn't a direct measure of quality of life doesn't make it a useless statistic. It's also useful to measure the economic heft of a country which is important in a macro context. Sometimes things need to be viewed from the top down, not just the ground up.