RE: Why Things Do Not Crash: Gross Domestic Product

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RE: Why Things Do Not Crash: Gross Domestic Product

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outwars in LeoFinance • last year

This is an interesting topic. You mentioned loss in revenues, but aren't they just replaced? For the telecom, it was replaced by the higher internet and mobile data revenue. Back then, internet revenue was low, or maybe almost non existent. Cellular network data wasn't even a thing.

For music, and CDs, aren't they just replaced by the Ad revenue or Spotify, and premium subscriptions?

For the film, isn't it just replaced by SD card sales?

Aren't these the deflationary effects of technology that you usually say? The revenue in the old technology is going down since it is replaced by new technology. It isn't a 1:1 replacement in amount, but isn't that expected?

last year in LeoFinance by outwars

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taskmaster4450le last year

That is the topic of the article I am about to write.

And they arent replaced in the sense of added features. Whatever the delivery mechanism, for music lets say, we still have access to a great deal more music than we did before for less money.

So if we are looking at 10 million songs for free on YouTube, how is that reflected in GDP. It isnt as if people lost access to the music. They actually gained.

This is why GDP is outdated. It doesnt capture what is taking place. It certain does when there are price increases but price reduction or elimination, the value in there isnt reflected.

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outwars last year

Yeah, I guess I was getting ahead of myself. I just read the second part. Good stuff. Thanks.

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