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by substack 3215 days ago
GDP has its own limitations, as it measures aggregate economic activity and does not take into consideration things like wealth distribution, environmental impact, unrenumerated labor. Further, imagine a society where everyone must pay for something that used to be free, like breathable air. If air becomes commodified, GDP goes up, but quality of life goes down as something that was previously a public good enters the realm of private profit. Extrapolate for various kinds of state-run services.

https://en.wikipedia.org/wiki/Gross_domestic_product#Limitat...