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by Earw0rm
514 days ago
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Are we miscounting GDP? That is, if someone goes out for work instead of caring for relatives, not only do we count their work as GDP, we also count the person who has to stand in for them. So that's a large increase in paid work done, but a minimal amount of extra wellbeing generated. Especially if, say, each of them now has to drive 45 minutes each way. If, as you say, care is paid for by other people working, are there interventions - either state or individual - to reduce the need to consume it? Obviously some people are just unlucky, and live a long time in a state of total incapacity (hence the "dementia tax" rhetoric), is it possible to incentivise people to do things that mean they need less of it - by spending a greater proportion of their lifespan in good health, say? |
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If I spend a day painting my garage door, and my neighbour spends a day wiring a new lightbulb, nothing is added to GDP
If I pay my neighbour to paint my garage door, and my neighbour pays me to wire a new lightbuld, that counts as GDP
Same work is done, same outcome.
> by spending a greater proportion of their lifespan in good health, say?
Might reduce the amount, on the other hand might extend lifespan and thus cost more.