The lesson to draw from this discussion is that GDP is not, and was never intended to be, a measure of welfare. It measures production. As we saw in chapter 1, Simon Kuznets, one of the pioneers of national accounting, was keen to develop a measure of economic welfare. But the demands of wartime meant his ambition was overtaken by the need to measure production and productive capacity, in order to use scarce material resources and labor as efficiently as possible. If the aim instead is to develop a measure of national economic welfare, we shouldn’t be starting with GDP. Which suggests that any kind of amendment to GDP—-whether hedonic pricing or the more radical alternatives suggested by critics of GDP discussed in the next chapter—-is trying to turn it into something it was never designed for.
Until November 2010, Ghana was considered “low-income,” that is, a poor country. But between 5 and 6 November 2010, it’s GDP increased by 60 percent overnight, turning it officially into a “low-middle-income” country. The reality had not changed, but the GDP statistics had, because the country’s statistical agency had updated the weights used in calculating the price index, and consequently real GDP, for the first time since 1993. Nigeria, Uganda, Tanzania, Kenya, Malawi, and Zambia are currently midway through the same kind of exercise.
so.. you americans want to know what its like in canada…..
Americans still won’t know because this is in Celsius
i can confirm. it was minus 2 today, and i went out coat less.
It’s -5 and I have the window wide open, hahaha
-3 and I have my windows open too!! Gotta get that fresh air in!
It’s so funny how relative weather is, like, when I was up North it was like “Oh wow it’s only -20, let’s sleep outside tonight!” (Not even an exaggeration I’m talking for real) but down in LA it’s like “jeeze it went from 30 to 15 better wear a hoodie with my jacket”.
But I know it isn’t me losing my edge, because when I was back in Winnipeg at Christmas it was like “woah yesterday was -50 but today is only -15? I don’t even need a jacket!”
Carl telling us how (not) to science.
"conclusion: dinosaurs" is still my favorite rebuttal to just about anything tbh.
Second perhaps only to “Therefore: aliens”
Joan of Arc, from the twitter sketch dailies - I’m really late but I wanted to color this :)
Deleted scene from the critically acclaimed film, Gravity.
oh my god, you tried
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