all of it. We are by volume of growth a 'narrative' economy not a 'production economy' which for many years now is about gambling on future outcome over pay from realized production.
There are of course solid arguments for this, but the issue is the narrative part of the economy needs to be a mix with follow on production returns -- which... according to our current GDP growth mix is not. As most even realized production is backed by narrative bets.
alt Hacker News
all of it. We are by volume of growth a 'narrative' economy not a 'production economy' which for many years now is about gambling on future outcome over pay from realized production.
There are of course solid arguments for this, but the issue is the narrative part of the economy needs to be a mix with follow on production returns -- which... according to our current GDP growth mix is not. As most even realized production is backed by narrative bets.