Democratic domestic product

Democratic domestic product

Over the years, some words have established themselves at the London Mathematical Laboratory as a useful vocabulary. “Laplacing something” and “Weltschmerz” (p.32) are among these words. Another is “Democratic Domestic Product” or DDP — a humorous term, like all the others, that reflects the first response a student trained in ergodicity economics will have when confronted with Gross Domestic Product (GDP).

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