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A comment on Britain’s statisticians fix a blunder and find a bigger economy. Parent comment
This example points out that we also have to look out whether GDP is also tied to valuable activities.
Things that come to mind are gambling, buying lottery, trading arts / crypto / stocks, and generally entertainment.
Some activities offer very little value.
This means these low value activities should reflect a minor part of your total GDP.
If the majority of your GDP comes from people in your own country trading arts with each other, you are fucked.
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This example points out that we also have to look out whether GDP is also tied to valuable activities.
Things that come to mind are gambling, buying lottery, trading arts / crypto / stocks, and generally entertainment.
Some activities offer very little value.
This means these low value activities should reflect a minor part of your total GDP.
If the majority of your GDP comes from people in your own country trading arts with each other, you are fucked.