Ep. 130: Demystifying GDP
The Seen and the Unseen - hosted by Amit Varma
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The Unseen Effect of War on the Economy
Basthia's parable basically was that if somebody throws a stone and breaks your window and you have to get the window repaired, people will say, hey, it's good for the economy. And this whole notion of how war helps the economy commits what is called the broken window fallacy. So while it appears that all this destruction isGood for the economy and indeed for GDP, we need to look at the unseen sort of effect of that.
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