|
|
|
|
|
by theozaurus
160 days ago
|
|
The book the 'Growth Delusion' has some great examples on this as well. To quote the FTs[1] review of the book. "The official protocols define the scope of GDP as measuring all monetised activity between willing parties in a given period. It is a pragmatic definition, but leads to some counterintuitive results. The sale of stolen goods for cash contributes positively to GDP, for example — so theft is good for growth. A parent’s housework and childcare, however, being unpaid, are excluded — resulting, by one recent evaluation, in a $3.8 trillion underestimate of the size of the US economy." I vaguely remember a similar one around traffic jams as well. [1] https://www.ft.com/content/b6182440-f21e-11e7-bb7d-c3edfe974... |
|