Tis a great oul number to wheel out when you want to give out about how for a rich country we only spend x% of GDP on healthcare/education/water/transport/whatever you’re having.
Sea_Instance3391 on
How are we doing?
Very well. GDP might not be the best metric but, on the whole, we have things pretty damn good in Ireland.
Cilly2010 on
Headline and article should be “the world’s most important economic statistic is ~~almost~~ useless.” It’s literally no more than guess work and all economists realise this and talk about the estimates and surveys and so on.
Additionally, how it puts no value on socially vital activities such as caring is well recognised.
Busy_Category7977 on
If anything we egg on this “phantom GDP” shite too much and it gets weaponized against us. You think London is doing this with all its money laundering revenues in the financial sector?
Sure. The profit flows of multinationals is not necessarily linked to how the economy feels on the ground and we should measure that. Writing it off as fairytales is wrong though because it has a huge impact on the tax take, employment growth, wage growth in our most lucrative sectors.
leeroyer on
Just because GDP doesn’t tell you the info you want doesn’t mean it’s useless. People that love to say well achually are trying to tell the time with a thermometer.
Peil on
“Think of our GDP figures like the world rankings in international rugby: a fundamentally inaccurate global indicator to which Fine Gael voters cling to make themselves feel better.” – Gavin Cooney in the 42
smooth_capybara on
Just yesterday r/Ireland was adamant that this is no longer happening and companies have no incentive to funnel money through Ireland, no MNCs are here for tax purposes. Today we’re back at GDP is useless for this exact reason…
9 commenti
I’d still prefer to have strong gdp than not.
I wonder how many times this article gets written
Tis a great oul number to wheel out when you want to give out about how for a rich country we only spend x% of GDP on healthcare/education/water/transport/whatever you’re having.
How are we doing?
Very well. GDP might not be the best metric but, on the whole, we have things pretty damn good in Ireland.
Headline and article should be “the world’s most important economic statistic is ~~almost~~ useless.” It’s literally no more than guess work and all economists realise this and talk about the estimates and surveys and so on.
Additionally, how it puts no value on socially vital activities such as caring is well recognised.
If anything we egg on this “phantom GDP” shite too much and it gets weaponized against us. You think London is doing this with all its money laundering revenues in the financial sector?
Sure. The profit flows of multinationals is not necessarily linked to how the economy feels on the ground and we should measure that. Writing it off as fairytales is wrong though because it has a huge impact on the tax take, employment growth, wage growth in our most lucrative sectors.
Just because GDP doesn’t tell you the info you want doesn’t mean it’s useless. People that love to say well achually are trying to tell the time with a thermometer.
“Think of our GDP figures like the world rankings in international rugby: a fundamentally inaccurate global indicator to which Fine Gael voters cling to make themselves feel better.” – Gavin Cooney in the 42
Just yesterday r/Ireland was adamant that this is no longer happening and companies have no incentive to funnel money through Ireland, no MNCs are here for tax purposes. Today we’re back at GDP is useless for this exact reason…