What is an economy?
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What is an economy? To my mind, it's a generally agreed-upon social construct concerning the exchange of goods and services with a goal of providing to people the means to acquire what they need in order to survive.
As a social construct, this is not something that happens naturally. It requires constant monitoring and oversight. Regulation and taxation are tools that prevent labour exploitation and wealth inequity.
I just feel a lot of people of power have been losing sight of what this is all supposed to be about.
GDP is a meaningless metric if people can't afford food, a home or an education for their kids.
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R AodeRelay shared this topic
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What is an economy? To my mind, it's a generally agreed-upon social construct concerning the exchange of goods and services with a goal of providing to people the means to acquire what they need in order to survive.
As a social construct, this is not something that happens naturally. It requires constant monitoring and oversight. Regulation and taxation are tools that prevent labour exploitation and wealth inequity.
I just feel a lot of people of power have been losing sight of what this is all supposed to be about.
GDP is a meaningless metric if people can't afford food, a home or an education for their kids.
@zazzoo
Iām also sick to death of everyone using the performance of the stock market as some kind of meaningful metric. That shit is meaningless to all of us down here with boots on the ground. -
@zazzoo
Iām also sick to death of everyone using the performance of the stock market as some kind of meaningful metric. That shit is meaningless to all of us down here with boots on the ground. -
@zazzoo
Iām also sick to death of everyone using the performance of the stock market as some kind of meaningful metric. That shit is meaningless to all of us down here with boots on the ground.@crispius The stock market is particularly silly. All this supposed "generated wealth" that's nothing more than the net-zero of what was put into the pot by all the gamblers at the table. A suckers' game for all but the insiders.
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What is an economy? To my mind, it's a generally agreed-upon social construct concerning the exchange of goods and services with a goal of providing to people the means to acquire what they need in order to survive.
As a social construct, this is not something that happens naturally. It requires constant monitoring and oversight. Regulation and taxation are tools that prevent labour exploitation and wealth inequity.
I just feel a lot of people of power have been losing sight of what this is all supposed to be about.
GDP is a meaningless metric if people can't afford food, a home or an education for their kids.
@zazzoo GDP is a meaningless metric, regardless of anything else.
An economy is a tool for allocating resources under scarcity. The first thing you need to decide is what your aims are: a lot of right wing chatter is about avoiding that conversation or having it in dog whistles.
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@zazzoo GDP is a meaningless metric, regardless of anything else.
An economy is a tool for allocating resources under scarcity. The first thing you need to decide is what your aims are: a lot of right wing chatter is about avoiding that conversation or having it in dog whistles.
@Colman You could argue that GDP is a measurement of wealth extraction from labour while saying nothing about how that wealth is distributed, no?
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What is an economy? To my mind, it's a generally agreed-upon social construct concerning the exchange of goods and services with a goal of providing to people the means to acquire what they need in order to survive.
As a social construct, this is not something that happens naturally. It requires constant monitoring and oversight. Regulation and taxation are tools that prevent labour exploitation and wealth inequity.
I just feel a lot of people of power have been losing sight of what this is all supposed to be about.
GDP is a meaningless metric if people can't afford food, a home or an education for their kids.
@zazzoo Median GDP per person would be more useful - how much is the 50% percentile making, rather than total GDP (which is vulnerable both to population growth and "Elon Musk walks into a bar and now everyone is a millionaire on average")
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@zazzoo Median GDP per person would be more useful - how much is the 50% percentile making, rather than total GDP (which is vulnerable both to population growth and "Elon Musk walks into a bar and now everyone is a millionaire on average")
@anyGould For sure this, or any of the various indices that measure median incomes against the actual cost of living.
