Tuesday, March 4, 2014

GDP Is No Sound Basis For Policy Decisions

So much policy emphasis is placed on such a garbage number.
"GDP goes up after natural disasters because of the rebuilding, but hurricanes, tornados, draughts and earthquakes are hardly a healthy recipe for economic growth."

Not to mention, GDP counts production of plastic vomit equally with infrastructure spending.  Our societal emphasis on GDP leads to harmful distortions. 

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