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The best example I heard recently was anesthesia. Costs less than $5 to make. Worth a lot more if you have surgery coming up.
by vessenes 7mo ago
The best example I heard recently was anesthesia. Costs less than $5 to make. Worth a lot more if you have surgery coming up.
- ambicapter 7mo agoThe cost of anesthesia is surely concentrated in the labor involved more so than the cost of the chemicals, no?
- vessenes 7mo agoThe example is supposed to illuminate the limits of ppp or gdp adjustment. Anesthesia contributes almost nothing to gdp, but it matters more than almost anything to you if you need surgery.
- drbig 7mo ago> The example is supposed to illuminate the limits of ppp or gdp adjustment. ... Yes, but that's like exemplifying the value of an actual slice of bread vs bitcoin to someone who is hungry. Macroeconomic numbers may have an impact on the local - as in the individual scale - but that's neither the topic nor the thread.