George Monbiot - The problem with gross domestic product is the gross bit....

The problem with gross domestic product is the gross bit. There are no deductions involved: all economic activity is accounted as if it were of positive value. Social harm is added to, not subtracted from, social good. A train crash which generates Â£1bn worth of track repairs, medical bills and funeral costs is deemed by this measure as beneficial as an uninterrupted service which generates Â£1bn in ticket sales.

George Monbiot

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George Monbiot Quotes

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The problem with gross domestic product is the gross bit. There are no deductions involved: all economic activity is accounted as if it were of positive value. Social harm is added to, not subtracted from, social good. A train crash which generates Â£1bn worth of track repairs, medical bills and funeral costs is deemed by this measure as beneficial as an uninterrupted service which generates Â£1bn in ticket sales. George Monbiot

They Said So®

Keywords

problem gross domestic product bit deductions involved economic activity accounted positive social harm added subtracted good train crash generates â£1bn worth track repairs medical bills funeral costs deemed measure beneficial uninterrupted service ticket sales

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