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FT: Is GDP the wrong indicator? | 15 comments (15 topical, 0 editorial, 0 hidden)
Re: LQD: FT: Is GDP the wrong indicator? (none / 1)
Here's a still-relevant quote by ThatBritGuy in 'Socratic Economics I: Why GDP growth above everything else?'
Yes, but 'productive capital' is a complete fiction. Capital doesn't exist as a physical thing. It only exists if people choose to believe in it.

Natural resources certainly exist, and the destruction of natural resources has an obvious real-world effect.

So why do economists apparently prefer to deal with fictions than realities?

by nanne (zwaerdenmaecker@gmail.com) on Wed Jan 28th, 2009 at 08:12:34 AM EST
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FT: Is GDP the wrong indicator? | 15 comments (15 topical, 0 editorial, 0 hidden)
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