Iconoclastes
JF-Expert Member
- May 26, 2014
- 4,091
- 2,511
You say that my argument is focused on "paper economy" while eliakeem's "welfare economy". Which prompts me to ask u the following:Are you responding to Eliakim's post?
If YES, can you say with confidence that eliakeem is talking about GDP stuff economy?! I doubt if you really know the economy because while Eliakeem is talking of welfare economy; your criticism focuses on paper economy... kind of economy focusing on Economic Growth with GDP Stuffs being the most preferred indicators used!
- What is a "welfare economy"?
- How do u calculate this so-called "welfare economy" (without depending on the results from the GDP calculations)?
- Doesnt this society that exists in a "welfare economy" engage in any sort of economic activity that can be put into calculations? Do they then exist in an economic vacuum?
- How do the pipo in a "welfare economy" earn their living, or indeed who cushions their needs?
Dude, I am very familiar with the criticisms against the GDP calculations and i honestly agree with most of them. But I disagree with u dismissing it as a mere "paper economy", and that it doesnt really reflect the true living standards of the pipo.
The GDP providess quite a reliable results about the goods and services produced by by the pipo in a given country within a given period, and how it has all impacted on the living standards of the population of the country: i.e some evident growth in the household incomes, the pipo's expenditures and what amount of the goods and services have been consumed by the pipo within the given period.
That then proves that it does reflect on the quality of life of the pipo despite its flaws. It does depict the reality on the ground.
I hope that u and Eliakeem realize that the 'P' in that initial stands for 'PRODUCT", referring to the pipo's efforts to produce goods and services to help satiate their needs and those of the others.