Re:Do not mistake a resilient global economy for populist su...
by mikelitoris on Friday January 09, 2026 @03:14AM
(#46551254)
and in every metric that encompasses logarithmic values (like income or wealth) normalize the use of the median ffs... Averages are gaslighting the "average" Joe.
Re:Do not mistake a resilient global economy for populist su...
by toenail on Friday January 09, 2026 @04:31AM
(#46551828)
> even a decrease in GDP could result in most people being better off if it occurred because of wealth redistribution
Which mechanisms exist to redistribute wealth fairly?
Re:Do not mistake a resilient global economy for populist su...
by walthamstow on Friday January 09, 2026 @04:40AM
(#46551892)
What's your subjective definition of fair?
Re:Do not mistake a resilient global economy for populist su...
by toenail on Friday January 09, 2026 @04:47AM
(#46551944)
Whoever wants to redistribute wealth would have to decide that.
Re:Do not mistake a resilient global economy for populist su...
by walthamstow on Friday January 09, 2026 @05:26AM
(#46552250)
You're perfectly free to offer a definition of your own subjective term yourself.
1. Look at income and consumption rather than production
2. Consider income and consumption jointly with wealth
3. Emphasize the household perspective (with this they seem to be focusing on more meaningful measurement of in-kind services and inter-sector payments, like government provision of healthcare and education, etc.)
4. Give more prominence to the distribution of income, consumption, and wealth
5. Broaden income measures to non-market activites (their examples here are things like childcare, where a shift from non-market childcare to market childcare over time can create the illusion of an increase in productivity)
Personally #4 is my biggest beef with GDP (and related measures like GDP per capita). Without some kind of adjustment for inequality, GDP can easily make bad things look good. What we need is not overall growth but equitably distributed gains; even a decrease in GDP could result in most people being better off if it occurred because of wealth redistribution.