GenZhou

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GenZhou is GenZedong without the shitposts

See this GitHub page for a collection of sources about socialism, imperialism, and other relevant topics.

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GrainEater@lemmygrad.ml

ComradePupIvy@lemmygrad.ml

Why didn't the soviets, Chinese, etc. Make a new form of statistics to more accurately reflect economic output? (Or if they did, why is it not used more often?) (lemmygrad.ml)

submitted 2 weeks ago by King_Simp@lemmygrad.ml to c/genzhou@lemmygrad.ml

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A lot of people on here talk about how GDP isn't a good statistic for measuring economic output. And I don't disagree, but it does make me wonder why I've never seen a different form of statistics developed by a socialist country. If there is a better way to measure economic output in terms of socially necessary labor or such then I would think that some economist or ministry would make one after 100 years of existing socialism around the world in some for or another

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[–] cfgaussian@lemmygrad.ml 23 points 2 weeks ago* (last edited 2 weeks ago)

They did. The Soviets didn't use GDP because it doesn't make sense for planned economies. They used Net Material Product. Another term often used in socialist economies was Gross Social Product.

Here's a Soviet economics textbook discussing how the national economy is measured under socialism, and why the measures of a national economy under capitalism are highly misleading.

The issue with modern China is that it does not operate a Soviet style planned economy. It has elements of planning and large state owned enterprises but also market mechanisms and sectors like real estate and finance which are among the main culprits for why GDP is such a distorted measure compared to the real economy. Such sectors simply did not exist in Soviet style economies, and only the DPRK still continues to follow that model today.