▲ | IceHegel 9 hours ago | |
I would push on how well GDP measures "economic might". If I were to tell you a country over five years grew its GDP 5% in 1900, that would mean houses and roads and factories and mines and a whole range of things were built. In 2020, 5% real GDP growth could be an increase in the value of various services. In fact, you might not need to change the physical world at all to achieve that growth. | ||
▲ | Marsymars 6 hours ago | parent [-] | |
Services are all basically a proxy for the physical world though. Other than things like art and media that people value for their own sake. |