You are viewing a single comment's thread from:

RE: Steemit is addressing an interesting economics problem

in #steemit8 years ago

I don't know why GDP should be tied to anything other than the total spending within a country. It has nothing to do with wellness.

I see what you are saying about Steemit though. But I just don't think it's relevant to the GDP - which is something very specific.

Sort:  

I think GDP is conflated with standard of living. It even appears in indexes which try to measure quality of life in various countries. But as you indicate, it shouldn't be used this way. By having a platform like Steemit, where value creation and rewards are closely linked, the measure of that value becomes much clearer. It can make possible a future GDP calculation which accurately describes quality of life as judged by real people.

I think you are looking for Human Development Index (HDI). GDP is correlated with standard of living, yes, for obvious reasons. But it is HDI that defines social progress. No serious index will confuse GDP with standard of living. They are two different things.

There's a clear correlation, of course, but not a conflation. You can see here - https://sites.google.com/site/csifinalprojecthappiness3/gdp-vs-hdi

I'd appreciate it if you modify your post to reflect this fact. :)

I agree with your perspective on Steemit though.

Thanks for the link, good material, and a very useful distinction to make. Btw, I'm also a big fan of the Hans Rosling view of the world.

Coin Marketplace

STEEM 0.18
TRX 0.14
JST 0.030
BTC 58679.35
ETH 3155.04
USDT 1.00
SBD 2.44