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Miedek on scored.co
1 year ago6 points(+0/-0/+6Score on mirror)1 child
GDP is like IQ. It's a good indicator of potential success, but when you train to artificially boost your scores, without actually improving what the score is supposed to measure, it becomes meaningless.
Goodhart's law: "When a metric becomes a target, it ceases to be a good metric".
I would call rising GDP a proper accident of a healthy society. You always have to scrutinize how things are changing to know if society is being degraded. Otherwise you might call a fire sale deflation or a crack up boom prosperity. A healthy society should be the goal and economic liberty is essential to that.
I would call rising GDP a proper accident of a healthy society. You always have to scrutinize how things are changing to know if society is being degraded. Otherwise you might call a fire sale deflation or a crack up boom prosperity. A healthy society should be the goal and economic liberty is essential to that.