still no, it’s mostly a measure of how much your economic activities are integrated in financial markets. i could sell you a rock for $10 and then you sell it back to me for $10 and suddenly we grew the economy by $20
I don’t want to have a debate about GDP or GDP per capita.
My point is that everything I’ve heard about the state of the Cuban economy right now makes this graph somewhat difficult to believe, and there’s no source.
Could it be PPP? If they included any health care or rent stuff in that metric it would definitely baloon like crazy (assuming they were looking at North American healthcare and rent costs)
If rent and healthcare are near 0 then it would definitely put PPP on par with the UK and US
GDP sucks. But you can definitely take GDP and, say, compared it with GDP (PPP) and draw some interesting takeaways. Of course, if you want to adequately understand the material conditions of a society you can’t stick to any one or two measures. You have to make a serious and overarching study of the economy.
The knowledge that GDP includes stuff like rent and financialization kind of demonstrates that Cuba - a socialist country with high house ownership and under a near total blockade - shouldn’t be able to explode their GDP per capita in two years.
Gdp isnt really a measure of material conditions
It kind of is, especially GDP per capita.
still no, it’s mostly a measure of how much your economic activities are integrated in financial markets. i could sell you a rock for $10 and then you sell it back to me for $10 and suddenly we grew the economy by $20
I don’t want to have a debate about GDP or GDP per capita.
My point is that everything I’ve heard about the state of the Cuban economy right now makes this graph somewhat difficult to believe, and there’s no source.
Don’t know the validity, but google provides it as a graph with this as the source. Seems to use world bank data, only up to 2022.
I kinda doubt it because it’s saying GDP/capita is higher than the UK and Canada.
Could it be PPP? If they included any health care or rent stuff in that metric it would definitely baloon like crazy (assuming they were looking at North American healthcare and rent costs)
If rent and healthcare are near 0 then it would definitely put PPP on par with the UK and US
That’d make sense, but nope, nominal GDP.
Damn… How did this happen lol
Increased trade with China?
$600B/11M is about $55k/pop
It includes rent so not really
GDP sucks. But you can definitely take GDP and, say, compared it with GDP (PPP) and draw some interesting takeaways. Of course, if you want to adequately understand the material conditions of a society you can’t stick to any one or two measures. You have to make a serious and overarching study of the economy.
The knowledge that GDP includes stuff like rent and financialization kind of demonstrates that Cuba - a socialist country with high house ownership and under a near total blockade - shouldn’t be able to explode their GDP per capita in two years.