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More than economics

16.10.2016, , Zdroj: PoMateřské.cz (www.pomaterske.cz)

Sometimes we seem to think that the health of society can be summarised only by economics. When we talk about GDP (HDP) and inflation, consumer prices, house prices, wages, we seem to think we are analysing reality, where in fact we are blowing bubbles in the sky. These bubbles are attractive, but there is a danger that obsessed with bubbles we miss the concrete world. Statistics are an abstraction, and each abstraction is relative.

Ok, perhaps my introduction sounds a bit abstract already, so let me give a concrete example. Yesterday I read an article where a Californian politician claimed that California is the fifth largest economy in the world. The statement is of interest to me because

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