GDP does not factor in a great deal of the harmful externalities that industry creates. Let alone the fact that they slide by the premise that infinite growth is possible on a finite planet. Do some more research: GPI or Genuine Progress Indicator is a much more accurate way of measuring REAL progress. I mean, our economy could grow three fold but it doesn't matter if everyone has cancer, tuna goes extinct, and there's dioxin in every mother's breast milk!
I don't get it, if the oil spill effects refinery production, it will make the next period's number smaller. If a patient dies of cancer, then the future wage/production of that person will not be recorded in future GDP data. It doesn't make sense to be subtracted from the present period since it will be reflected in the future period numbers...
You really don't get it. When someone is diagnosed with cancer, THE HEALTH CARE INDUSTRY is going to make a killing off of treating that person. The money's in the COMEBACK. An oil spill means that MORE OIL HAS TO BE DRILLED AND REFINED AND SHIPPED TO REPLACE THAT OIL. The company suffers a loss, yes, but the oil "INDUSTRY" does not because more oil has to be produced to replace that and to overcome the loss of that oil that was spilled...duh.
Yes and furthermore, the GDP doesn't take resource depletion and degradation into account. There must be a cost associated with a tree being cut down, or a body of water rendered useless to living species when calculating and tracking progress.
@davis849 if its a constant degradation(ie no other tree growing back in its place, lake doesn´t recover), there is a measurement who takes this into account: the lower market value of that forest/lake (except in cases when those places can be used in a manner that isn´t affected by its ecological damage)
what an untenable ad, half of those arguments against GDP recordings are not even in the definition of GDP and...technicalities.
the oil in such an oil spill may not be recorded in receipts for goods produced until it has become an input into its final product.
We are aware of the use of the GPI as the indicator for welfare growth, not GDP, as Kuznets postulated, so this ad is a lame-duck attempt to contributes nothing more to promote this awareness.
Get over your technical foolishness. Everything doesn't need to be QUANTIFIED to be true. As our economy is now, outsourcing is good for the economy. High health care costs are good for the economy. Deforestation is good for the economy. Doesn't mean that any of that is good for "people," which is what the economy should be there for. The economy should serve the people of a country that allows it to exist, not multinational corporations without borders.
I think you are confused on identifying the concept of an 'economy' and what it actually constitutes and why we have corporations at all. There is a clear distinction between the results of choices and the ability to act this choice. It is a qualitative argument.
Basic level eco. Nothing to shout about. Public should be made aware, yes. There are shortcomings in the use of GDP to measure standards of living... but how many things are you going to subtract? Surely, when a cancer patient gets diagnosed and GDP goes up, this is a measure of better living standards, as if cancer is caught diagnosed early enough it can be cured. Therefore, improving life for potential cancer patients.
fundamentally maths dont add up
add 1 drop of water to another drop of water=.one drop and it will drop
what adds up must come down
jumblymamba 1 year ago
Awesome, Awesome, Awesome!
Adbusters Rocks. You guys/girls are legends!
You Rock..... I love this video.... too good.
grantkitto 2 years ago
*Great video but see "The Room" by Tommy Wiseau! AWESOME
**DISCOVER "The Room MOVIE" by Tommy Wiseau! It's FUN!**
bettyCA9 3 years ago
GDP does not factor in a great deal of the harmful externalities that industry creates. Let alone the fact that they slide by the premise that infinite growth is possible on a finite planet. Do some more research: GPI or Genuine Progress Indicator is a much more accurate way of measuring REAL progress. I mean, our economy could grow three fold but it doesn't matter if everyone has cancer, tuna goes extinct, and there's dioxin in every mother's breast milk!
SpartacusMoriarty 3 years ago 6
I don't get it, if the oil spill effects refinery production, it will make the next period's number smaller. If a patient dies of cancer, then the future wage/production of that person will not be recorded in future GDP data. It doesn't make sense to be subtracted from the present period since it will be reflected in the future period numbers...
nemasen 3 years ago
You really don't get it. When someone is diagnosed with cancer, THE HEALTH CARE INDUSTRY is going to make a killing off of treating that person. The money's in the COMEBACK. An oil spill means that MORE OIL HAS TO BE DRILLED AND REFINED AND SHIPPED TO REPLACE THAT OIL. The company suffers a loss, yes, but the oil "INDUSTRY" does not because more oil has to be produced to replace that and to overcome the loss of that oil that was spilled...duh.
strategyminded 3 years ago 3
Yes and furthermore, the GDP doesn't take resource depletion and degradation into account. There must be a cost associated with a tree being cut down, or a body of water rendered useless to living species when calculating and tracking progress.
davis849 2 years ago
@davis849 if its a constant degradation(ie no other tree growing back in its place, lake doesn´t recover), there is a measurement who takes this into account: the lower market value of that forest/lake (except in cases when those places can be used in a manner that isn´t affected by its ecological damage)
DeHerg 11 months ago
This has been flagged as spam show
But they don't say anything about planned obsolescence and how much Americans have lost on depreciation of automobiles every year.
$300,000,000,000 per year, plus interest on car loans, plus car insurance.
What is NDP? They only officially depreciate CAPITAL.
tinyurl dotcom/2djdrr
psikeyhackr 4 years ago
Economist will have to do a lot of subtracting to keep up with future inflation.
willyswear 4 years ago
what an untenable ad, half of those arguments against GDP recordings are not even in the definition of GDP and...technicalities.
the oil in such an oil spill may not be recorded in receipts for goods produced until it has become an input into its final product.
We are aware of the use of the GPI as the indicator for welfare growth, not GDP, as Kuznets postulated, so this ad is a lame-duck attempt to contributes nothing more to promote this awareness.
anderg03 4 years ago
Get over your technical foolishness. Everything doesn't need to be QUANTIFIED to be true. As our economy is now, outsourcing is good for the economy. High health care costs are good for the economy. Deforestation is good for the economy. Doesn't mean that any of that is good for "people," which is what the economy should be there for. The economy should serve the people of a country that allows it to exist, not multinational corporations without borders.
strategyminded 4 years ago
I think you are confused on identifying the concept of an 'economy' and what it actually constitutes and why we have corporations at all. There is a clear distinction between the results of choices and the ability to act this choice. It is a qualitative argument.
How would you measure these externalities then?
anderg03 4 years ago
GDP measures present period numbers dipshit. Inflation is recorded in the GDP real growth numbers already.
nemasen 3 years ago
People don't seem to understand that 30 seconds is all you get for a commercial space. Of course it's "simplistic".
botchbud 4 years ago
this is the most retarded thing i have ever seen.
Economics is not ethics or how the world should be, it is how the world is, deal with it!
onemind1 5 years ago
Do you have a reflection?
strategyminded 3 years ago
You're on the right track but the message is too simplistic.
pmberry 5 years ago
Basic level eco. Nothing to shout about. Public should be made aware, yes. There are shortcomings in the use of GDP to measure standards of living... but how many things are you going to subtract? Surely, when a cancer patient gets diagnosed and GDP goes up, this is a measure of better living standards, as if cancer is caught diagnosed early enough it can be cured. Therefore, improving life for potential cancer patients.
thedogonarope 5 years ago
A newly diagnosed Cancer patient has to undergo chemotherapy and get put on medication. They are GUARANTEED MONEY for the health care industry.
GDP goes up. What's so complicated about that?
strategyminded 3 years ago
No, it's true: If someone's gettin' rich... someone else is getting sick or being exploited.
AeroEbook 5 years ago
the world isn't zero-sum. The pie grows, learn to think...
nemasen 3 years ago
Post hoc anyone?
justsearching 5 years ago
this is stupid
Thepornmaster 5 years ago
this = you, right?
strategyminded 3 years ago
ADBUSTERS represent! Vancouver represent!
bateRaiko 5 years ago
Welcome to the machine everyone.
kmanz113 5 years ago
So true
ZeroSky 5 years ago