[ 21/March/22 ]
What is it actually measuring?
If you look at computation, computation has been increasing exponentially for over 100 years. Real cost per computation is falling. Is that in any way reflected in the notions of “Debt” and “GDP”.
The fact that the solar panels on my roof supply most of energy for my house does not appear in GDP – they have been installed for a decade, and have required about 2 hours of my time to clean them twice a year over that period.
Debt is really about expectation of exploitation.
The useful function of money is to allow for the efficient use of goods and services. When a lack of numbers results in goods and services going to waste, and people’s reasonable needs going unmet, then there is a problem with the system.
And before anyone goes off and attacks me, I am not suggesting either central control or common ownership or universal equality. I am strongly suggesting that there need to be fairly high minima, and there needs to be both cooperation and responsibility at all levels – which includes both ecological and social responsibility – and that means respect for individual life and individual liberty (responsibly expressed), and respect for any diversity that necessarily results.
The notion of Debt captured above is not responsible, it is essentially the result of embedded cheating strategies; and that situation needs to be corrected if the human experiment is to survive.