| Imagine a housewife who diligently cares for her house and children. She makes no contribution to the economy according to GDP, the traditional measure of economic wealth. — ☿ — Now imagine she drowns the children and burns the house down. This would lead to an increase in measured economic wealth! — ☿ — The cost of firefighters and police, of vehicles and gas, of burials, of clean-up and rebuilding, of lawyers and courts … all would contribute to GDP. — ☿ — Keeping her locked-up, fed and clothed; providing psychiatric treatment, social-workers, building maintenance, prison guards and security … all would contribute to GDP. — ☿ — Would anyone but an economist think that her actions brought anything but harm to her family, her community, and the economy? |
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