Noam Chomsky - Gross Domestic Product

[@jprp999]

Our Business Studies/Economics teacher laid this out in a very similar way when i was studying in 89/90.

[@KCCCX]

@Frederic Bastiat your potential knowledge on this topic is undone with your disgusting language. if you know what you're talking about there is no need for insults and ad-hominems.

[@KCCCX]

@Frederic Bastiat your intelligence about economy really shows in your scholarly language.

[@KCCCX]

Frederic Bastiat also conservatives are racist. It's in the nature of a true conservative. Conservatism is inherently reactionary and thus relies on past ideas. Ideas that come from racists and are racist in purpose. The funny thing is , I dont know what leftists calling conservatives racist has to do with you actually making a valid point? There's no leftists here calling conservatives racist so what does that have to do with your ad-hominem backed points? State your point and defend it without insulting people like a child.

[@jprp999]

@Frederic Bastiat How can anyone know what language you are using before they read what you have written?

[@markadams2667]

Short and sweet to the bitter truth. Thank you sir!!!!!

[@coreycox2345]

I liked the idea of measuring how we were doing over time. We talked about these things in the planning department, but they never made it into our publications in a way that included numbers. This is excellent.

[@smallbluemachine]

If you don’t measure it, you can’t be held to account for it. Just like the size of the money supply. It’s “too expensive” to track and would only lead to more boring questions from the serfs.

[@RaimonTarou]

whats the point of being rich if your depressed and suicidal??? the goal of money should be to improve the lives of people, NOT to make pure profit. well said Noam.

[@oldi184]

I love Mr Chomsky. I hope he will live 150 or 200 years. We need people like him. Those 3 minute video opens the mind.

[@NyetTube]

Noam should be taught in high schools.

[@Discovery_and_Change]

1:13 social indicators (welfare, child abuse, mortality) 2:00 until 1975 social health went up with economy 2:18 since 1975, economy grows but social health declines

[@algtech-07-58]

i really hope he would do a short video about what's happening in algeria this days

[@imhoisntworthmuch5754]

Always forget to thank* for the u/l and the source.. I watched everything the man posted.

[@DavidJohnson-dc8lu]

If there is proof that GDP growth is linked to pot holes for car repairs and health declining, maybe Americans need to start suing their state and Gov't. Once the cases of suing increases, America might look towards equal prosperity for real GDP growth that comes from social growth. There is an idea from capitalist that socialism does not work, yes it does, it works when society if forced to bail out the banks, and it will probably work when society starts to look after society also.

[@technatezin]

Measuring real wealth as in the quality of life of the participants of a society in any meaningful way is simply not applicable with an economic system that runs on currency circulation. It just isn't. Money circulation presupposes that perpetual constant purchasing by the consumer for items on the market means the person or group doing the consuming sees an improvement in their health or quality of life that is due to the purchases that constantly need to be repeated. For anyone who's not a complete idiot or corrupt oligarch the illogic of the assertion is obvious and speaks for itself. With anything else other than frequently needed consumable products like food that you can't avoid needing to repeatedly purchase the repeated purchase of non-consumable items implies either the negligently designed poor quality of the consumer goods themselves or the intentional manipulation of the manufacture or those goods (planned obsolescence and intentional crippling of product quality) to artificially spur on the need to repeatedly purchase intentionally designed inferior quality goods for the sake of profit. In neither situation could you see an improvement in the quality of life because the encouragement to repeatedly purchase consumer items, but the GDP increases nonetheless.

[@abrahamel-gothamy6472]

We have to protect him and betty white. The 90 year olds keep me young

[@秋分-d8i]

Look back to China, emmmmmm...

[@CoolBreezeAnthony]

WASF - GDP at the cost of quality of life for the people.

[@CoolBreezeAnthony]

I am no moron. And that comment was in reference to roads that are not properly paved making vehicles that ride on such roads subject to being constantly repaired or replaced to fuel the economy. @Frederic Bastiat

[@CoolBreezeAnthony]

Please stop with the name calling, To be fair I have not responded by calling you names. @Frederic Bastiat

[@CoolBreezeAnthony]

Not exactly. You need to rethink that interpretation. @Frederic Bastiat

[@DavidJohnson-dc8lu]

@Frederic Bastiat How does low production help people? The costs of Low production has meant American's have lost jobs to the Chinese and Mexicans, for basically low quality tack at over inflated prices to cost of production to price of goods. This has led to crime, depression, high unemployment, job losses and the rich poor divide ever increasing. I'll give Trump his due for being the first President in a long time who has tried to get American's back their jobs for the economic trade of low production and trade tariffs imbalances.

[@DavidJohnson-dc8lu]

@Frederic Bastiat My point, if we only look at the costs of low production, America and the UK , and other places will always lose jobs to emerging and developing markets. So low production costs are ethically detrimental on developed economies. Not to mention Noam also explains how most big businesses in America are producing and employing less and less in America as they are making money in the financial markets instead. If companies just had some ethics, paid people decent wages and weren't all about low costing production, the creation of more jobs in America would actually mean American's could afford to spend a little more in general. (off on a little tangent) Also, interest rates could go up to take liquidity out of the economy, and people would actually be able to save money to afford goods without over borrowing, and save for retirement...which is a mark of a healthy economy. However, because the overvalued debt market dominates America, and the S&P carries a $8 debt to every $1 it makes, everyone is taught to hate interest rates, when for the whole of the economy it is good (as it helps the general public save), but for the capitalist it is bad (as it takes profits away from their investments).

[@daniyalnaqvi2569]

Did he just say this or is this an excerpt from some work or an old speech?

[@imhoisntworthmuch5754]

Op did and always posts the source in the description.

[@daniyalnaqvi2569]

@@imhoisntworthmuch5754 oh thank you. Didn't see it.

[@imhoisntworthmuch5754]

quite welcome.

[@aaliadoesanarchy6277]

Hey could y'all share your thoughts on the progressive content I'm creating?

[@aaliadoesanarchy6277]

@@sherlockcipher6690 why are some chomsky fans so condescending?

[@HIIIBEAR]

Keep doing your thing man. Chomsky fans are condescending because that’s pretty much the whole point lol

[@nirbhaythakur4837]

I like your content a lot comrade . Although , yes debunk these charlatans a little less. Make more leftist content .

[@Patrick-gf5xg]

How about some content on money creation / fiat currency?

[@BartAlder]

​@@aaliadoesanarchy6277 You asked for feedback but it looks a whole lot like you don't actually want it unless people share thoughts you already like. So who is really condescending to whom in that exchange?

[@imhoisntworthmuch5754]

alright.. so gdp and other economic growth index have always been manipulated for the "market". in short and as most ppl know.. what could I possibly input as news. or maybe help a guy out on his progressive content.. work for free collective feedbacks. ( tad sarcastic ).

[@Johnconno]

Gross!

[@austinkennedy8278]

The idea that making people sick or creating potholes increases GDP is an example of the broken window fallacy. Yes economic activity increased (which is what GDP measures), because the doctor and the mechanic were paid, but in both cases the patient and the driver had to miss work which reduced economic activity and had to pay money to maintain their health or their car which means that money could not be spent on something they would rather have like a new television or diamond bracelet. Without the potholes or illness GDP would have increased even more, so GDP is a reliable measure of the economy. The problem is that people fail to differentiate between different levels of GDP growth. An economy whose GDP is growing at 3% is in worse shape than one growing at even 3.1%. Even minor differences like .1% between GDP growth can lead to massive differences in standard of living over a 10 or 20 year period. When people say we should accept a little lower GDP to pursue social aim x or y they don't realize how much they are sacrificing in future GDP per capita.

[@tobybrown1179]

Austin Kennedy More debt, is the key. Enslaved in debt

[@janjune3032]

I think you've fallen into the trap of the broken window fallacy fallacy, because repairing avoidable damage is ACTUALLY included in GDP measurement and your hypothetical television or bracelet is not. The same applies to built-in obsolesence. There is simply too much money to be made in lowering the quality for producers not to do it. Worst of all, producers are in cahoots with consumers cause they then can get the “kick” of fun-shopping, and sharing on social media the glittering newness of their junk. When two parties are in seeming conflict, the easiest way to resolve this is by off-loading the burden neither party wants to bear to an absent third party. In capitalism the most docile third party will always be the environment. Furthermore capitalism cares nothing for quality or use value, only trade value. It has proclaimed itself to be superior to philosophy because numbers are precise and words are not. No wonder 0,1 increase in GDP is more important to economic fundamentalist than maintaining the live-sustaining qualities of the only planet with significant life on it. Economy limits its scope to be precise, in depth and specialized, while at the same time has sweeping imperious claim over politics and society as a whole. Which is impossible of course, any sane man sees the fault in this perspective, a brainwashed mob in a productivist econocracy does not, it thinks inside the box.

[@austinkennedy8278]

@@janjune3032 That was partly the point I was making. Say you have two nations. Nation 1 has tons of potholes and cars need to be repaired more often as a result. The business the auto mechanics are doing is reflected in the GDP. Nation 2 has really nice roads and cars don't need to be repaired as often. Workers don't miss work dropping their cars off at the mechanic and they can use the money they would have paid in auto repair bills to buy things that they would rather have. This will also be recorded in GDP, and the GDP of Nation 2 will actually be higher as a result, so GDP is a good measure of a nation's economic situation.