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numpad0today at 1:01 AM0 repliesview on HN

IMO the problem with GDP is it's basically always normalized in USD, and USD isn't that universally representative of units of production/utility.

I mean, not to be political, but there's probably a place somewhere on Earth selling 10 standard chicken eggs for 540 local coins that's equivalent to $0.01 by the official government rates then-and-there, and the idea of GDP being meaningful means they must be either producing something like thousands of eggs per hour per employee or they live with something like a single pieces of chocolate worth of calories per day. And it's really not like that.

I'm sure GDP figures normalized on local consumer price index will have its own flaws, but especially USD-normalized GDP feels wrong to me in that regards.