Saturday, December 14, 2013

Things That Shouldn't Have To Be Said

Poverty and associated income inequality can be thought of as big fucking deals even if they don't have any discernible impact on GDP or GDP growth. People may disagree about the appropriate social welfare function, but W=GDP is gibberish unless you truly believe that an economy with a GDP of one greater dollar is always preferable even if that "better" GDP involves Bill Gates earning all the monies and the rest of us earning none.