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by aloneinkyoto
5717 days ago
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The reason why GDP is still used is because we have a lot of historical GDP data available and it is a fairly simple measure to understand and collect data on. Nor do we have a good enough alternative measure yet. We do have several candidates, but just as you state they all have weaknesses that needs to be understood. The problem with economic sciences is that the GDP measure is used without critique, without fully understanding its trade-offs or by simply ignoring it deficiencies. That I believe is very careless when you are in the end dealing with the lives of real people. |
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> The problem with economic sciences...
Honestly, this is hard for me to read.
Lectures on the inadequacies of the GDP are Macro 101 stuff. Throughout college in my different econ classes the shortfalls of the GDP were frequently discussed by several different teachers.
This economic sciences conspiracy to prevent indictments of the GDP you're trying to present as fact is completely fabricated and gives a bad name to economists that do discuss the shortcomings of the GDP (read: every economist ever).