Sure, but i'm not even talking about externalities or 2nd order effects. I'm talking about first order effects.
Google, FB, JPM, etc. achieve 350% growth over 5 years. OK. Does that mean they produce 350% as much utility?
If these were Tesla, we'd also count the number of cars and the conversation would be a lot more grounded. We'd quickly realize that the market values Tesla's future in a certain way, Ford's another. We wouldn't accidentally conclude that the economy is suddenly making way more cars.
For a start your Amazing American services have expanded globally; Amazon now takes a cut on (make up a very massive number) of transactions all over the world.
Yesterday I had an Amazon delivery, my wife had an Amazon delivery, our next door neighbours had an Amazon delivery.
I ordered Amazon fresh when I woke up for some groceries I forgot about; and they were delivered two hours later.
I am lucky to get a delivery slot in a weeks time from most locally created services.
So American business is really thriving, it is just America itself that is in a hopeless mess.
Google, FB, JPM, etc. achieve 350% growth over 5 years. OK. Does that mean they produce 350% as much utility?
If these were Tesla, we'd also count the number of cars and the conversation would be a lot more grounded. We'd quickly realize that the market values Tesla's future in a certain way, Ford's another. We wouldn't accidentally conclude that the economy is suddenly making way more cars.
What is it that the economy is doing more of?