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A comment on U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected. Parent comment

Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by xedrac on Thursday October 26, 2023 @10:13AM (#38025853)
This says nothing of economic output. If you just hand out money to people, that has an economic output of zero. Short term this might work, but long term, I believe it would shrink the economy, and leave it saddled with people that don't produce according to the markets' demands. Why would they?
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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by djbusby on Thursday October 26, 2023 @10:32AM (#38026122)
Why wouldn't they? Do you think folk would just sit on ass after getting the handout? Would you? Some, perhaps - but they sit on ass now - and have no social safety net or anything, they outdoors.

The human condition is to endeavour. Even with free money the majority of folk will work, or do something to improve their situation.

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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by xedrac on Thursday October 26, 2023 @06:45PM (#38032625)
I would certainly keep myself engaged and busy with my hobbies. But that is unlikely to produce anything of real value for anyone else.
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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by coliveira on Thursday October 26, 2023 @10:24AM (#38026004)
People who don't produce anything and live from getting money to spend... I think you just described the rich!
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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by nickpp on Thursday October 26, 2023 @11:02AM (#38026497)
How did they become rich then?
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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by coliveira on Thursday October 26, 2023 @05:16PM (#38031811)
There are all kinds of ways of getting rich. Working is the least efficient in terms of effort.
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Re:U.S. GDP grew at a 4.9% annual pace in the third quarter,... by nickpp on Friday October 27, 2023 @03:54AM (#38035832)
All top 10 richest men in the US are self made. And they worked damn hard at it. Of course they worked smart too, and took chances - that's the part most people miss.
[ Parent | on HN ]