Robert F. Kennedy challenges Gross Domestic Product
Why Hacker News recommends it
Quoted in economics threads about growth, work and basic income as a classic critique of GDP.
What it is
A short video of Robert F. Kennedy's 1968 speech criticizing Gross Domestic Product as a measure of progress, saying it counts everything except what makes life worthwhile.
Recommended by 2 HN commenters across 2 different months, 2014 to 2020.
What Hacker News said
Strong rec lcam84 · 2020-02 · on “Can We Have Prosperity Without Growth?”
It depends. If it generate any kind of money exchange it counts to GDP. But there are many solutions that don't generate growth (like walking to work instead of using other means of transportation) The way we measure growth is nuts. the best way to acknowledge that is to watch this speech from Robert F Kennedy [this video]
Recommends pqh · 2017-11 · on “A basic income could boost the US economy by $2.5 trillion”
I'd also be interested in effect on resource consumption. GDP isn't everything. I can't say it better than Kennedy: [this video]
Cites rbehrends · 2014-06 · on “Workaholism in America Is Hurting the Economy”
The problem with GDP per capita comparisons is that GDP is a bit of a weak measure of economic performance. It is a measure of raw, unadjusted economic throughput (cash flow, essentially), not necessarily a measure of economic performance. It is increased by an inefficient healthcare system (healthcare spending makes up 17.7% of the US GDP all on its own, while most of the affluent European countries are in the 9%-11% range), by the wars in Iraq and Afghanistan, and by the United States' comparatively high energy usage per capita. See also RFK's famous quote one the GNP [1]. The reason why GDP is still used prominently as an economic indicator, while economists have been looking for better m
Cites lcam84 · 2020-05 · on “Remote work has its perks, until you want a promotion”
Although working fewer hours can mean more work (or at least a greater distribution of work), producing on a smaller scale is much more efficient than producing on a larger scale. This is due to Borsodi's law which states that as the cost of production decreases due to centralized operation, the cost of processing and distribution increases disproportionately [1]. For example, if a greenhouse produces one type of fruit for the entire continent, its production costs are low but distribution costs will be much higher e.g. the costs of transporting the fertilizer to the site, and those of transporting the goods as well as cooling, packaging, marketing.These distribution costs will be much highe