Don't worry it's not all bad. GDP also doesn't fully measure how increases in technology have radically improved our lives. Think cell phones, Hulu and Double Stuffed Oreos.
Thursday, January 14, 2010
Problems with GDP
The always enjoyable Freakonomics blog recently posted about how GDP is a great measure of well-being in a society. For example, it correlates positively with life expectancy, adult literacy, good food, and self-reported "life satisfaction". However, they also make the point that GDP also measures other things:
Don't worry it's not all bad. GDP also doesn't fully measure how increases in technology have radically improved our lives. Think cell phones, Hulu and Double Stuffed Oreos.
Don't worry it's not all bad. GDP also doesn't fully measure how increases in technology have radically improved our lives. Think cell phones, Hulu and Double Stuffed Oreos.
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