GDP Undervalues the Impact of the Family
A strict free-market reading of economic growth would support the view that any monetary generating activity is of equal value to society. But, if I spend $1,000 on an abortion or $1,000 on a life-saving procedure, are the two activities really of the same value? If $15 million is spent to build a casino or a manufacturing facility, will they both produce the same economic results to the surrounding community? In truth, abortions feed economic inequality since abortions are most prevalent among poor women. At the same time, well-heeled doctors and the health system pocket the abortion money, increasing the Gross Domestic Product (GDP). Casino revenue is whisked away, never to return. Clearly, maximizing GDP isn’t the same as maximizing economic well-being. In contrast, the family plays a crucial role in a country’s determinant of economic well-being, and the family is grossly misrepresented in official U.S. economic statistics.