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Re: FCC votes to remove protections for the open Internet in the USA.

On 2017-12-17 16:30, Caver1 wrote:
On 12/17/17 3:56 PM, Jim Fisher wrote:
On 16 Dec 2017 at 19:05, Wolf K wrote:

On 2017-12-16 16:22, Ocalab wrote:
Great post!

I just miss the meaning of "GDP" in the last paragraph:

add to the GDP

What is it?

Gross Domestic Product, the sum-total of all monetary transactions in a

That's a more accurate definition than Caver1's. According to the GDP measure, which is used by most governments and international bodies to monitor economic performance, it is beneficial and adds to GDP if you pay someone to destroy something (anything) of public value, or pay someone to dig a hole and then fill it in again. but if you spend a day doing voluntary work for a charity or helping your neighbour that has no value. It's a total nonsense, but seems to
be the only thing of interest to most governments and economists.

Jim Fisher

Really]not much difference.
Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services
Mine>Value of everything an area/country produces for the year.

"Market value" is not the same as wealth. Yet most people talk about GDP as if it were a measure of wealth. "Growth" in the economy is measured as GDP growth, and it's supposed to be a good thing. Which is nonsense. Repairing the damage done by natural disaster will increase spending, hence increase the GDP. So most commentators will blithely assume an increase in wealth. But replacing what you've lost is not an increase in wealth, so talking about GDP as if it were a measure of wealth is so stupid that it's not even wrong (as a physicist would say).

GDP is an easy number to calculate, which I suspect is one reason it's popular. The other is that it's easy to bamboozle people with it.

Wolf K
"The next conference for the time travel design team will be held two weeks ago."
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