Under the current rules for measuring growth, only activities that involve some transfer of money are economically relevant. Thus the work of the world\’s poor and of those raising children and building communities are considered unproductive by economists.

It\’s true that GDP only measures a subset of activity and that it does not measure everything. But to then claim that this means that the activities not included are regarded as unproductive by economists is inane.

Economists are exactly the people who do agree that, say, household production, is productive and then set off to measure how much of it there is.

1 thought on “Twit”

Leave a Reply

Your email address will not be published. Required fields are marked *