If product quality would increase (for example cars with a lifetime of 30 years) how would it affect GDP growth, company earnings, and quality of life of the people?
I would guess the quality of life increases because people are able to spend their money on other things. GDP would be around the same if the money goes to other sectors and global company earnings as a whole will be shifted between sectors but not increase.
So maybe the quality of life cannot really be measured by GDP? Or are my thoughts wrong?
Submitted April 07, 2023 at 03:55AM by software_dev1989 https://ift.tt/LrU3EXo
