To be clear, you are suggesting we might not lose anything by giving up measuring and using GDP figures? I'll side with the majority of the economics profession... they aren't perfect but they mostly use GDP data in a reasonable way.

Just so we're on the same page, could you explain what it would look like if economists' collective wisdom were actually so bad that you would agree they use GDP data in an unreasonable way?

Because you can't just look at the fact the top economists all agree -- they'd do that even if the field were collectively garbage. There has to be some real-world entanglement which would reveal the failure of their ideas, and I want to know what you expect such a failure to look like.

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.