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Re:Look at median, and not mean GDP per capita by oxfordmale on Monday August 08, 2022 @03:05AM (#32383032)
GDP in itself is a faulty measure. One easy way to increase it to ask everyone to throw a brick through their neighbours window. The spend on window repair will increase the GDP, although there is no value add to the economy, other than the glass fitters of course.
Re:Look at median, and not mean GDP per capita by derriz on Monday August 08, 2022 @03:54AM (#32383260)
Only if you assume everyone is sitting around doing nothing waiting for window repair work to arrive. More likely is that the effort and resources required to fix the windows will displace other economic activity which would have contributed positively to GDP numbers.
Re:Look at median, and not mean GDP per capita by JumpCrisscross on Monday August 08, 2022 @04:06AM (#32383324)
GDP is a flow measure. If you drain a dam the flow will increase for a while before you deplete your stock. There are stock measures of the economy, though they're difficult to estimate because an asset's value is only truly known when it is transacted. (And even then in a highly particular way.) One way to think about our capital markets is as an ongoing value-of-the-economy machine (or at least a subset thereof).
Re:Look at median, and not mean GDP per capita by alickz on Monday August 08, 2022 @08:08AM (#32384531)
Wikipedia link if anyone wants to read more on broken window economics.

https://en.wikipedia.org/wiki/Parable_of_the_broken_window

Re:Look at median, and not mean GDP per capita by zerr on Monday August 08, 2022 @03:12AM (#32383065)
It would show that there are enough resources to fix the windows.
Re:Look at median, and not mean GDP per capita by HenriTEL on Monday August 08, 2022 @07:10AM (#32384216)
Yes, and that's likeky to have an impact on later GDP values, as all that has not been spent on better investments than repairing windows.

Except for the UK that has terrible windows and a proper upgrade would lead to serious reductions of gaz imports, that are likely to sting this winter.