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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[–] Comprehensive49@lemmygrad.ml 6 points 2 weeks ago

This article discusses this exact topic: https://asiatimes.com/2024/06/whats-the-real-size-of-chinas-economy/

TLDR: World Bank PPP estimates probably understate China’s real economic size because China produces vastly more goods and far cheaper, rapidly improving services more than official numbers show; many price and quality gains (and volume metrics) are not reflected in the 2021 ICP. This understatement is likely due to China’s incomplete transition from the Soviet-era Material Product System to the UN System of National Accounts—under MPS services are treated as production costs rather than value, so China’s services are excluded or undervalued in official GDP, making true PPP GDP likely substantially larger.