2023, when people are still obsessed with this shitty useless GDP ...
The largest part of GDP is the value of all final goods and services which are produced to be sold (final means excluding intermediate consumption - see above) —> THIS DOESN'T DIRECTLY MEAN THAT IF YOU SELL MORE THINGS, YOU ARE MORE RICH! The best example are the bullshit ø related to wage ... where the wage of few people huge increase the ø wage of all people! Same happens with pollution and other things ...
https://t.me/FinanceFactsTelegram/332
https://t.me/PollutionFacts/518
Without considering that such money get not directly in the hand of the population! Yes, obviously more they sell, more money get the government. But last years show exactly that even if GDP increase, public debt got worse and worse! no matter if the % maybe got better ...
Even Poland with a low debt as % GDP increase their debts
https://t.me/DebtTelegram/307
With GDP no distinction is made whether the goods or services that are produced have a positive or negative impact from a social or environmental perspective. For example if there is an oil spill in the ocean, the transport of the oil as well as the cleaning work related to this is included in GDP.
There are a few types of work that are not included in GDP and they mainly concern some types of services, such as housework, everyday domestic services and personal care —> why we don't say all not declared work ... (Making these estimates for unreported transactions and illegal activities is not easy)
GDP growth does not necessarily go hand in hand with positive social or environmental development in an economy. This brings us to the next point … what GDP does not reflect.
It does not measure the social or environmental situation of an economy.
... to produce indicators with broader measures than GDP, that reflect other issues, including for example happiness or well-being https://perma.cc/CQ53-A4K6
Why are we so fixated on economic growth? https://perma.cc/X6BU-G2VK
https://t.me/FinanceFactsTelegram/564
The largest part of GDP is the value of all final goods and services which are produced to be sold (final means excluding intermediate consumption - see above) —> THIS DOESN'T DIRECTLY MEAN THAT IF YOU SELL MORE THINGS, YOU ARE MORE RICH! The best example are the bullshit ø related to wage ... where the wage of few people huge increase the ø wage of all people! Same happens with pollution and other things ...
https://t.me/FinanceFactsTelegram/332
https://t.me/PollutionFacts/518
Without considering that such money get not directly in the hand of the population! Yes, obviously more they sell, more money get the government. But last years show exactly that even if GDP increase, public debt got worse and worse! no matter if the % maybe got better ...
Even Poland with a low debt as % GDP increase their debts
https://t.me/DebtTelegram/307
With GDP no distinction is made whether the goods or services that are produced have a positive or negative impact from a social or environmental perspective. For example if there is an oil spill in the ocean, the transport of the oil as well as the cleaning work related to this is included in GDP.
There are a few types of work that are not included in GDP and they mainly concern some types of services, such as housework, everyday domestic services and personal care —> why we don't say all not declared work ... (Making these estimates for unreported transactions and illegal activities is not easy)
GDP growth does not necessarily go hand in hand with positive social or environmental development in an economy. This brings us to the next point … what GDP does not reflect.
It does not measure the social or environmental situation of an economy.
... to produce indicators with broader measures than GDP, that reflect other issues, including for example happiness or well-being https://perma.cc/CQ53-A4K6
Why are we so fixated on economic growth? https://perma.cc/X6BU-G2VK
https://t.me/FinanceFactsTelegram/564