Hacker News Reader

Comment by ttoinou | Hacker News Reader

Taking maximas and minimas is only saying that the scale of GDP figures is interesting to look at. Like does it have 3 figured or 6 figures ? But that metric is easily done with others measures than GDP.

And yeah, if you study GDP its easy to see it’s a giant scam and the economy cannot be put into numbers. Qualities are better than quantities

View on HN

Do you have a historical example when a decrease in GDP in a country was accompanied with generally accepted increase in quality of life?

Why would you need that ? GDP does not have good theoretical foundations. We don’t need to pretend it’s a natural science like biology, it’s constructed from bad statistics, it’s worth nothing

> if you study GDP its easy to see it’s a giant scam and the economy cannot be put into numbers. Qualities are better than quantities

You'll need to have some sources for that!

I don’t. It’s people who pretend the economy can be measured that should prove their point (they can’t)

GDP has been studied and demonstrated for decades. I wonder if there are any economic metrics that are better studied.

Its an argument from authority. All those people could be wrong about what the economy is about, it does happen that 90% of people are wrong about something, collectively. And every country measures it differently.

Even if it was really meaningful, by the simple Cobra effect it would be made meaningless

It's an argument based on research and expert consensus. What is your argument based on?

Reply on news.ycombinator.com