Cocaine’s unexpected economic impact – BBC News
when buying cocaine actually helps the government out one day the National Crime agency received information that tug boat sailing off the coast of Scotland might be carrying drugs they sent out from low-flying plane the plane Ben of Royal Navy warship and a large beautiful shift into septic below deck hidden in a tank they found 3.2 tons of cocaine was 512 million pounds it was the biggest ever seizure of class play drunks and UK history good news for the government you might think but in times of how we measure the economy this is actually bad news sales of illegal drugs like cocaine the way the government measures how well the economy is doing so that meant slower GDP but government won’t go up to calculate minus what we put into making it so if I Coffee Shop sells a hundred pounds worth of cups of coffee but spent 10 pounds I’m buying the coffee beans to make it their contribution to GDP would be 90 lb can technically helps our economy look bigger critics say GDP should include things I have a negative impact on Society and also points out it doesn’t take into account the impact on the environmentWhen it comes to our main measure for the economy, GDP, even the illegal drugs trade is included.
When GDP goes up, it’s said the economy is growing, which is something governments like to show off about.
Critics say GDP includes some things it shouldn’t.
For more, check out this podcast from the series Economics with Subtitles on BBC Radio 4: https://www.bbc.co.uk/programmes/b0bd6jj7
Animation by Rabia Ali
Please subscribe HERE http://bit.ly/1rbfUog