I agree that GDP is imperfect. If it were easy to perfect then it would have been done already. Should more resources be devoted to the issue? Probably. I support the use of multiple measures of wealth and well-being. But I do think that when GDP goes up, that usually indicates good things are happening. Other indicators usually track it.

I'm not trying to deny you've noticed a problem, I just think that you're overstating it because even though GDP is imperfect, there is still a lot to be learned from empirical research that uses it.

Open Thread June 2010, Part 3

by Kevin 1 min read14th Jun 2010627 comments


This thread is for the discussion of Less Wrong topics that have not appeared in recent posts. If a discussion gets unwieldy, celebrate by turning it into a top-level post.

The thrilling conclusion of what is likely to be an inaccurately named trilogy of June Open Threads.