Hamartia Antidote
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- Nov 17, 2013
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GDP comparison sans PPP is meaningless. Just because a haircut costs less in China compared to US, doesn't mean the US haircut is generating more economic value and activity.
That is the big flaw in GDP comparisons add to the fact they happen with USD which the US can print at will.GDP comparison sans PPP is meaningless. Just because a haircut costs less in China compared to US, doesn't mean the US haircut is generating more economic value and activity.
GDP comparison sans PPP is meaningless. Just because a haircut costs less in China compared to US, doesn't mean the US haircut is generating more economic value and activity.