Two economists are walking in a forest when they Come across a pile of shit.
The first economist says to the other “Ill pay you $100 to eat that pile of shit.” The second economist takes the $100 and eats the pile of shit.
They continue walking until they come across a second pile of shit. The second economist turns to the first and says “l pay you $100 to eat that pile of shit.” The first economist takes the $100 and eats a pile of shit.
Walking a little more, the first economist looks at the second and says, “You know, I gave you $100 to eat shit, then you gave me back the same $100 to eat shit. can’t help but feel like we both just ate shit for nothing.” “That’s not true”, responded the second economist. “We increased the GDP by $200!”
IF you had a functional social safety net, however in this circumstance you would eat shit, pay taxes, a family in Palestine would die, and a rich person would have a couple extra dollars towards the next extravagant pedophilia convention in Florida
Another reason why measuring economic success in GDP is stupid.
It’s better to measure wealth disparity.
What that joke is missing is the fact that the $200 is taxable income so the government and its citizens would benefit from that transaction.
IF you had a functional social safety net, however in this circumstance you would eat shit, pay taxes, a family in Palestine would die, and a rich person would have a couple extra dollars towards the next extravagant pedophilia convention in Florida
Maybe Ukraine would be given a missile to defend itself.
I’d be okay with that.