jsseven777 t1_j5bnfsa wrote
Reply to comment by Frumpagumpus in What do you think an ordinary, non-billionaire non-PhD person should be doing, preparing, or looking out for? by Six-headed_dogma_man
Your own article says it’s a bad measure. That doesn’t account for inequalities in distribution which was the entire point here.
Frumpagumpus t1_j5bp7vm wrote
> This is why GDP (PPP) per capita is often considered one of the indicators of a country's standard of living,[3][4] although this can be problematic because GDP per capita is not a measure of personal income
far from "it's a bad measure"
nathanielKay t1_j5e2mdx wrote
Ah, true. Its the worst measure.
If I have a billion dollars, and you have a thousand friends with nothing, GDP says we're all millionaires.
Yeah nah, one of us is doing fine, the other 999 are living in abject squalor. Which is to say, almost everyone.
Also, there is already a formula for determining QoL, with a dozen or so markers, and the US usually places around 16th or so.
Frumpagumpus t1_j5eh1iu wrote
huh, that sounds awful similar, except it puts slightly more emphasis on egalitarianism over raw industrial capacity...
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