I don't feel like having a huge convo on this atm but thanks sincerely for your post which makes good points. I just don't want you casting your pearls before swines lol
One thing I will say is that the fact that finance capital was able to change the way the Russians calculated the size of their economies to include bullshit like stock markets before going on to raid them is exactly what I mean when I say it's a bullshit made-up propaganda measure. Maybe that's not it's sole intended purpose but it is definitely used for that purpose. A dollar spent on a factory in china is counted the same as a dollar made from creating NFT apes.
It's a fake measure with real consequences in other words. I also don't think western economists know their asses from their elbows, and spending 15 minutes in an econ 101 class illustrates why. Following that shit to it's conclusion basically leads you to ancapistan.
I agree with you it’s complete bullshit metric, but since the world has decided to adopt it as a measurement, it’s real as far as real world consequences are concerned.
It’s like debt (promise) - if a society has decided that a promise made has to be kept, then it’s real and needs to be fulfilled, even if it’s just someone’s words that are not tangible.
I don't feel like having a huge convo on this atm but thanks sincerely for your post which makes good points. I just don't want you casting your pearls before swines lol
One thing I will say is that the fact that finance capital was able to change the way the Russians calculated the size of their economies to include bullshit like stock markets before going on to raid them is exactly what I mean when I say it's a bullshit made-up propaganda measure. Maybe that's not it's sole intended purpose but it is definitely used for that purpose. A dollar spent on a factory in china is counted the same as a dollar made from creating NFT apes.
It's a fake measure with real consequences in other words. I also don't think western economists know their asses from their elbows, and spending 15 minutes in an econ 101 class illustrates why. Following that shit to it's conclusion basically leads you to ancapistan.
I agree with you it’s complete bullshit metric, but since the world has decided to adopt it as a measurement, it’s real as far as real world consequences are concerned.
It’s like debt (promise) - if a society has decided that a promise made has to be kept, then it’s real and needs to be fulfilled, even if it’s just someone’s words that are not tangible.