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> If you have a car crash and pay medical bills that raises the GDP by the amount of spend but is not a good thing. I mean, in an alternate reality where car c
by RestlessMind 2y ago
> If you have a car crash and pay medical bills that raises the GDP by the amount of spend but is not a good thing.
I mean, in an alternate reality where car crashes still happen but the person dies because of the lack of medical care, then it is a bad thing. That we invented medical procedures to deal with car crash victims is a valuable offering to the society and GDP is a crude way to capture such value.
- megadal 2y agoVery crude. Unusable infrastructure counts towards GDP as well, if I'm not mistaken.