Comment by orwin
2 years ago
A at-home dad get paid nothing to take care of his children.
He takes a 50k job, pays à baby-sitter 20k (said babysitter couldn't find a service job that could pay him 50k, weirdly), and voilà, 70k GDP.
2 years ago
A at-home dad get paid nothing to take care of his children.
He takes a 50k job, pays à baby-sitter 20k (said babysitter couldn't find a service job that could pay him 50k, weirdly), and voilà, 70k GDP.
I’m not going to argue that GDP is a perfect metric, because it clearly is not. But I feel obliged to point out that 5/7 of the GDP created in your own scenario is a guy doing presumably valuable work, and 2/7 is the baby sitter doing previously unaccounted for work; which is also based on wages, perhaps more fit to their skills.
It would be great if we could measure work done without exchange of goods however that is generally not so large as to totally distort the general numbers. To no discredit of the work parents do.
> He takes a 50k job
so, he produces 50k value somewhere