What about planned obsolescence? The technology is too complicated for most people to evaluate. I asked a PhD economist from the University of Chicago to explain how an automobile engine worked. He couldn't even start. Maybe we have pseudo-growth! Increasing GDP is not increasing Wealth it is only increasing Cash Flow. What is Net Domestic Product, NDP. Economists do not talk about that. Economists treat air conditioners like bananas. Both get added to GDP when purchased, but you know a banana won't last long. The air conditioner should take years to wear out. What happens to the depreciation? What happened to the depreciation of the 200,000,000 cars that were in the US in 1994? We are listening to economists who can't do algebra. NDP = GDP - Dcap [Western economic calculation] NDP = GDP - (Dcap + Dcon) [reality] Dcap: Depreciation of Capital Goods Dcon: Depreciation of Durable Consumer Goods GDP: Grossly Distorted Propaganda
![Ep_4 Svitlana Matviyenko _Cyberwar and Communicative Militarism [subtitled]](http://i.ytimg.com/vi/gRu2ic5FVjs/mqdefault.jpg)
![Ep_4 Svitlana Matviyenko _Cyberwar and Communicative Militarism [subtitled]](/img/tr.png)
![Ep_2 Paul Cockshott _On the Complexity Order of Economic Planning [subtitled]](http://i.ytimg.com/vi/soDlyercgOo/mqdefault.jpg)
![Ep_2 Paul Cockshott _Sobre a Ordem de Complexidade do Planejamento Econômico [legendado]](/img/n.gif)
Amazing Lecture
What did Karl Marx say about vanadium steel?
It is curious that neither the Left nor the Right advocate mandatory accounting/finance in the schools.
What about planned obsolescence? The technology is too complicated for most people to evaluate. I asked a PhD economist from the University of Chicago to explain how an automobile engine worked. He couldn't even start.
Maybe we have pseudo-growth!
Increasing GDP is not increasing Wealth it is only increasing Cash Flow. What is Net Domestic Product, NDP. Economists do not talk about that.
Economists treat air conditioners like bananas. Both get added to GDP when purchased, but you know a banana won't last long. The air conditioner should take years to wear out. What happens to the depreciation? What happened to the depreciation of the 200,000,000 cars that were in the US in 1994?
We are listening to economists who can't do algebra.
NDP = GDP - Dcap [Western economic calculation]
NDP = GDP - (Dcap + Dcon) [reality]
Dcap: Depreciation of Capital Goods
Dcon: Depreciation of Durable Consumer Goods
GDP: Grossly Distorted Propaganda