tag:blogger.com,1999:blog-4159906646513306121.post1327133623146185663..comments2023-11-19T20:38:50.237-08:00Comments on Economic Logic: GDP is not everythingEconomic Logicianhttp://www.blogger.com/profile/10171296292101248614noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4159906646513306121.post-77317140594722511692008-04-24T07:50:00.000-07:002008-04-24T07:50:00.000-07:00For one, almost all modern macro models do not max...For one, almost all modern macro models do not maximize GDP, but some welfare measure typically based on utlity discounted over several periods. And utility is based on consumption, leisure, at least.<BR/><BR/>But it is true that these models do not really focus on the lower end of the distribution, in a Rawlsian sense.Anonymousnoreply@blogger.com