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In response to:

The GDP Distractor

IowaFalcon Wrote: Aug 21, 2013 5:33 AM
Great article on how our metrics are at best unreliable. The question that I have is why we put so much focus on GDP to begin with? It is like giving the demand side economists that have screwed up the world home field advantage when we use it to determine anything! At best it is a fantasy number that is a glorified estimate. At worst it is an incentive to do the stupidest public policy that we can come up with. Imagine a world where we measured the health a nations economy by the wealth (in a real currency like gold) at various percentiles? Policy would shift from phony tax and spend schemes that destroy wealth to those that actually make the citizens wealthy.
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