GDP = Greatly Diverting Propaganda

The problem with calculating a nation’s well-being via per-capita GDP:

…you and your friend are the only people sitting at a bar. Then Bill Gates walks in, and your friend states (correctly) that “The average person in this bar is a billionaire!”

That’s from The G-Spot, where Blogger Kathy G. (didn’t Dylan write a song by that name? and if not, why not?) has some fine riffs on inequality.

Measured by per-capita GDP, as I’ve noted, Israel is in superb economic shape. In reality, the Republic of Tel Aviv flourishes, while the rest of Israel languishes.

Kathy G. proposes

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