Estimating the margins of sin

31 05 2014

“The critics of GDP give it too much credit. It is a painstaking attempt to measure the total production of the economy. It is not the guiding star for economic policy, public morality, or anything else.”
– Tim Harford

Question for Tim: once we include sex work and illegal drugs into the calculation of GDP do we not dis-incentivise politicians to shrink those industries?

http://timharford.com
http://www.ft.com/cms/s/0/b08812f6-e7e6-11e3-9af8-00144feabdc0.html

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