True or false: “things you do for yourself don’t count towards GDP” (where “do” does not include “buy”)
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The economic “ignoring” of waste is now the source of our largest expense — climate change. Fact that externalities never got assigned a direct cost is precisely why climate change even exists. Even Alexander von Humboldt saw it. Denial of basic math, not science, will kill us.
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Sorry to take it this far. But that phrase “GDP today” .... oof. Makes my blood boil.
End of conversation
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I guess it depends on when.
A widget you buy and toss straight to landfill is measured the same as one that’s heavily used and tossed when worn out
So I guess it gets optimistically counted as full utilization
I’d say GDP today overcounts economic value by ignoring waste