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by Retric
1651 days ago
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Maximizing GDP doesn’t need to be the primary goal to as you say guide policies. There are plenty of policies aimed to increase economic growth as measured by GDP. Economists however are on all sides of this issue, it isn’t some monolithic field where everyone agrees on even basic ideas. |
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> It is also important to understand what GDP cannot tell us. GDP is not a measure of the overall standard of living or well-being of a country. Although changes in the output of goods and services per person (GDP per capita) are often used as a measure of whether the average citizen in a country is better or worse off, it does not capture things that may be deemed important to general well-being.
Tirades that when economists calculate GDP the human society is serving "abstractions" or the devil over the "real" and God is just fearmongering.