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The question of economic growth is thrown into further confusion by the methods used to measure it. Fundamentally, economics is myopic. It measures reality by its current market price. The intrinsic value of real things, their essential character which remains unchanged even when their price on the market fluctuates, is not an issue to the economist. He is like Oscar Wild's cynic.

Answer»

The question of economic growth is thrown into further confusion by the methods used to measure it. Fundamentally, economics is myopic. It measures reality by its current market price. The intrinsic value of real things, their essential character which remains unchanged even when their price on the market fluctuates, is not an issue to the economist. He is like Oscar Wild's cynic.



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