If We Measured the Economy by Quality-of-Life Instead of GDP, We’d Be In a Depression
Authored by Charles Hugh-Smith via oftwominds, GDP is like collecting data on passenger satisfaction with the dessert cart on the Titanic and declaring everyone is delighted as the great “unsinkable” ship settles into the icy waters of the Atlantic. That Gross Domestic Product (GDP) is an outdated and misleading metric of the economy is widely …