Tim Ward ⭐🇪🇺🔶 #FBPE on Nostr: npub1wyu5t…6t407 npub1g0tuf…3tvm4 GDP is known to be a bonkers measure. If for ...
npub1wyu5tn758hc399kq7z0gcf0s4tqxs8z8rn2me5672pnks4429s2s66t407 (npub1wyu…t407) npub1g0tuf634rz4suczwj7kgnecr6cyt0eu9xmp3sp0fku68mqehq4msp3tvm4 (npub1g0t…tvm4) GDP is known to be a bonkers measure. If for example repairing cars broken by potholes costs more, ie causes more economic activity, than mending the potholes, then mending the potholes will DECREASE GDP so, from that point of view, would be a Bad Thing.
This has been known in the business for decades. The trouble is, I was told by someone in that game[#], that GDP is an internationally defined metric and it just isn't practical to get any change through the approval process, even if anyone could come up with a useful replacement in the first place.
[#] The director of the Bennett Institute whom I once met at a college dinner or somesuch https://www.bennettinstitute.cam.ac.uk/
This has been known in the business for decades. The trouble is, I was told by someone in that game[#], that GDP is an internationally defined metric and it just isn't practical to get any change through the approval process, even if anyone could come up with a useful replacement in the first place.
[#] The director of the Bennett Institute whom I once met at a college dinner or somesuch https://www.bennettinstitute.cam.ac.uk/