alt Hacker NewsIf I pay you 100$ for mowing my lawn, and you me for yours. Technically the GDP increased with 200$.
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genxy • today at 12:03 AM
How about I draw you a picture instead. Mowing a lawn is a priceable service.
If I pay you 100$ for mowing my lawn, and you me for yours. Technically the GDP increased with 200$.
How about I draw you a picture instead. Mowing a lawn is a priceable service.
And, in this case, the dollar-amount increase in GDP serves as a virtual quantitative proxy for the increase in mowed lawns (and the value thereof). In other words, the participants in this economy are collectively ~$200 richer with their mowed lawns than they were without them.