top | item 44047403

(no title)

grayfaced | 9 months ago

Wouldn't it be more apt to compare consumption vs production. It looks like US is about 26% of global GDP from a quick google. But I'm also suspect of comparing GDP's across nations that have very different methodologies.

Also services are counted there, so it's likely we're exporting services in exchange for manufactured products.

discuss

order

hunglee2|9 months ago

US GDP is grossly inflated by 'services' many of which are non-productive, even deleterious to society. Healthcare is probably the best example of this, I believe it is 10-15% of US economy, yet health outcomes for the people can be extraordinary poor, seeing as majority of bankruptcies in the country are as a result of healthcare costs incurred. We need to find a way to separate 'good' vs 'bad' GDP because the measure is way too crude