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GDP measures waste production
  • Vitaliy_KiselevVitaliy_Kiselev

    We're told the gross domestic product (GDP) measures growth, but what it really measures is waste: capital, labor and resources squandered in quixotic pursuit of waste masquerading as "growth."

    50 million autos and trucks stuck in traffic, burning millions of gallons of fuel while going nowhere? Growth!

    Repaving a little-used road: growth!

    Buying a new refrigerator that could have been fixed by replacing a $10 sensor: growth!

    Creating another huge bureaucracy to oversee the financiers: growth!

    Tossing out an item of clothing that was worn once or twice in favor of the latest fashion: growth!

    Read http://charleshughsmith.blogspot.ru/2014/09/gdp-waste.html

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