It's the supposed ability for a nation to produce in times of emergency.
I like to think of these works as weather reports they are looking at models and trends while talking in the probability of events. It can be percice but the accuracy fails, or the accuracy is good but it's not precise
How can GDP determine what a country can produce in times of emergency? There’s a half-dozen countries that can make computer chips - how would you infer the ability to do this in an emergency from GDP?
Australia has next to no steel making yet our GDP is high because we export a shitton of iron ore - how can GDP capture this?
What can you infer from the GDP of North Korea? If they declared war on Japan, would you look to GDP to determine the likely winner?
Print a ton of money and give it to the banks and you get GDP growth - how is that in anyway a meaningful metric?
GDP is not like a weather report, it’s more Keynesian voodoo used to give an impression that your bullshit government is growing the economy when really they’re just diluting everyone’s purchasing power.
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I will use stronger language as we are on the same side of the ideology.
GDP was created to compare nations ability to produce in 1917 when nations were much more isolationistic. GDP is a government penis measurement using the unit de jour (which the US currently manipulates)
This article is a weather report; its either accurate but not precise or its precise and not accurate.
I have yet to read this nostr:npub1trr5r2nrpsk6xkjk5a7p6pfcryyt6yzsflwjmz6r7uj7lfkjxxtq78hdpu book but its on the list now.
I am greatly appreciating this conversation
Sorry its Ferrington
Always good conversations to be had on nostr. I’ve learned more on here in 6 months than years on other platforms!
I have consumed large swaths of content in the last 6 months, nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe recommended podcasts at 2X or higher. Its amazing how much i can understand while flowing in my physical work at the farm.
Farrington and Sacha Myers. I’d encourage you to read it.
Already downloaded nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev reading it. Will listen tonight. Farringtons work has been poinent thus far
