ftav

Not the future. Don't talk about the future.

A company that replaces a billing department with a chatbot interface records lower costs and higher output per worker. The national accounts register a productivity gain. But the hours that patients spend decoding their own tests appear nowhere — not in labour statistics, not in GDP.

noahpinion.blog

JD Vance's crusade against GDP is wrong and bad

The American right is simply tweaking these arguments to make them more appealing to their own base... So they want some way to neutralize this objection, so they can do things that will, in fact, make America poorer.

noahpinion.blog

No, China did not manage to avoid a crash

According to China's official statistics, the Chinese economy shrank by 0.8% in the second quarter of 2022: China's growth is usually reported in year/year numbers, but quarter/quarter is how the U.S. and most countries do their reporting. So by the kind of measurement Americans are used to hearing about, China's economy officially contracted at an annualized rate of over -3% in the second quarter of 2022.