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[]x0x7 -3 points

Yep, we have overpopulation, but to counter depopulation we need to replace the current population with a stock that will breed faster, http://www.un.org/en/development/desa/population/publications/ageing/replacement-migration.asp

[] -0 points

People are living in cages in Hong Kong and there are garbage big-box retailers and parking lots everywhere, but we need more idiot mouth breathers to keep the economy going!

[]x0x7 -2 points

It's only true if you care about gdp instead of gdp per capita. Also really the only measure that matters is median household income vs cost of living.

GDP per capita is supposed to be a rough placeholder for that.

[] -0 points

Agreed, quality of life is the only measure that matters for the average person, but if you're a plutocrat, GDP is the only measure that matters. This fact explains a lot about why the elite are so eager to prop up the economic ponzi scheme regardless of the quality of life impact to most citizens.

[]x0x7 -0 points

The Fed so inhibits quality of life. It's interesting how if you start your economic theories caring about quality of life and build up the theoretical structure from there, vs caring about finance how you end up with different conclusions that seem so obvious.

On of the key differences between austrian economics and other forms of micro-economics (which formed into macro) is that austrian value theory came up with subjective value theory (which the others use) but also described it as peoples final action in trying to pursue a general quality of life improvement strategy that Carl Manger described.

Basically the theory says that people value goods because they have relationships with other goods which in their relationship ultimately lead to improved security in providing a human need.

When your theory is based on improving the reliability with which people provide for themselves and noting how people succeed and fail at that, you probably come up with better suggestions of how policy can help or hurt that. If you are only interested in studying volumes of exchange you will come up with good ideas for increasing that generally. Maybe we give everyone cancer because then they will have a high motivation to access expensive kemo. Total exchange will be up. We'll all be so rich will will be able to afford the kemo.

[] -0 points

GDP per capita is not a good indicator of median wage at all, because the super-rich skew the statistics. You can already find median wage statistics by country so the only reason to use GDP per capita is if you're intentionally trying to skew the facts.

[] -0 points

"A stock that will breed faster"? I don't think you understand how this works. White western women used to have tons of kids too; they stopped when it was no longer viable to have so many kids. Immigrants see their birth rates after they migrate because they're faced with the same incentives and constraints as women born in the country.

π