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US: Large public sector of debatable value (please no flames) Japan: Paves entirety of Yokohama China: Tofu real estate and more... I agree that it is silly.
by palmfacehn 2y ago
US: Large public sector of debatable value (please no flames)
Japan: Paves entirety of Yokohama
China: Tofu real estate and more...
I agree that it is silly. If the state or the public sector digs holes and refills them, it adds to GDP. Typically economists say, "Yes, GDP is a flawed metric, but it is better than no metric"
That said, we can evaluate the added benefits of automation and the productivity gains thereof, purely from first principles, without resorting to empiricism.