Is it true the oilspil is adding to GDP?

Discussion in 'Economics' started by Debaser82, Jun 6, 2010.

  1. All those people cleaning up, BP investing billions in finding a solution...

    Could it be?

    In theory it could be true which raises the question if GDP is indeed the method of choise to calculate progress in society does it not?
  2. yeah, problems + solutions = employment + GDP

    If there aren't problems, there are no solutions.
  3. bettles


    Well, GDP has never directly correlated with "quality of life", since it counts the cost of both "positive" and "negative" purchases. Every time someone has an automobile accident, gets diabetes or cancer, has a heart attack, or is robbed and has to replace the stolen items it contributes to GDP as well. So something negative contributing to GDP is nothing really new.