Re:YC Research: Universal Healthcare
by alkonaut on Wednesday February 08, 2017 @04:02AM
(#13596883)
That's why GDP is a pretty bad yardstick. Spending on inefficiency is spending so it raises GDP, but GDP doesn't indicate whether money was spent making people better off, or just spent.
It's like a natural disaster or oil spill: there is good chance a natural disaster or actually increases GDP short term. People aren't better off for it however, since that money could have been spent better elsewhere.
It's like a natural disaster or oil spill: there is good chance a natural disaster or actually increases GDP short term. People aren't better off for it however, since that money could have been spent better elsewhere.