this post was submitted on 12 Feb 2024
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This isn't capitalism, this is just a flaw with the metric of GDP. Capitalism would be the first guy ransoming $100 for shelter, and forcing the second guy to eat the shit to get the shelter.
GDP as the benchmark for economic performance is a key piece of propaganda that supports capitalism though. It’s the most prominent of several numbers that we use to orient and measure the success of the economy despite having little correlation with actual human well being.
In specific cases GDP is flawed, but generally – looking at a lot of countries and a long time frame – a higher GDP means higher living standards.
But that’s the propaganda at work lol. It doesn’t necessarily mean that.
It does, though. Countries with a higher GDP have higher living standards.