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Richard Stallman's Political Notes

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GDP and income

jeudi 2 août 2018 à 02:00

"You can't eat GDP." The US economy appears to be very successful, if you measure it by this incorrect measure. Meanwhile, most people's income is going down.

It's nothing new that the GDP does not measure what matters about an economy, but having an example where the GDP rises and most people's lives actually get worse is a clearer demonstration of this.