Andii אַנדִֽי''What about including [in GDP] the value of unpaid childcare, the value of charity and voluntary work, the value of looking after elderly relatives at home, or even the value of doing your own housework instead of paying someone to do it? All of these clearly create real value in the economy, but they're not included in GDP.''
And indeed why aren't we factoring out the false economies related to pollution etc?
https://www.taxresearch.org.uk/Blog/2026/03/17/10-of-gdp-is-fiction/
#WagesForHousework #GDP #UKpolitics #economics
And indeed why aren't we factoring out the false economies related to pollution etc?
https://www.taxresearch.org.uk/Blog/2026/03/17/10-of-gdp-is-fiction/
#WagesForHousework #GDP #UKpolitics #economics
10% of GDP is fiction
Everyone is told that economic growth is the key to prosperity. But what if a significant part of GDP, the number politicians obsess about, is based on a transaction that never actually happens? Around 10% of UK GDP is made up of something called “imputed rent.” This is the imaginary rent homeowners...