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So, this whole analysis strikes me as the worst of "economic thought?" The first bit of failure here is "equating well-offness to output," e.g. something that c
by jrm4 10mo ago
So, this whole analysis strikes me as the worst of "economic thought?" The first bit of failure here is "equating well-offness to output," e.g. something that can be measured by GDP.
Then it misses the other big deal, which is the utter weirdness caused by extreme on-paper wealth inequality, where the e.g. Elon Musk numbers reach levels of literal absurdity.
Money, in a sense, doesn't matter. It's "goods and services." The big question should be, does the way we do "money" effectively help everyone trade goods and services in a reasonable way. That's the only real path to "happiness."