lol. I can't believe I'm having a conversation on a football forum with some random bloke criticising a universally accepted economic formula.
So which multi-dimensional model (which pays extra attention to the extremes) would you anti-capitalists use? Because I think the answer is 'The Anecdotal Model', which is preferred because it cannot be calculated and you can use it to make any case you want without the tiresome burden of evidence.
I think it may have been you I had the discussion with on economic growth and how the way we measure it shows economic growth is absolutely required for everyone in society to be economically better off. I then using first principles proved that both 99.9% of people could be better off in an economy that had contracted and conversely 99.9% of people could be worse off in an economy that had grown. The measure used is done so not because it is sound but because it tells the story those in control want to hear. Economists are very very likely to be capitalists and so will use performance metrics that support that ideal even if they are flawed.
It's not without its uses, but shouldn't be looked upon as foolproof or in isolation. I'm not going to pretend to be good enough at maths to come up with an alternative but even I can say the starting point for something that measures inequality should focus heavily on the extremes rather than push them to one side - that's where inequality is!
You have said about 'anecdotal' and economics works on the basis that everything must have a value and because somethings are very difficult to value they largely get ignored. We knock down trees to build things because the
perceived value of the trees is less than what is being built, even though it may well be those trees could clean the air, save hundreds of people from dying and thus save a fortune in healthcare costs and societal costs from family breakdowns/mental health of their loved ones worth ten/hundred times more. But because it's impossible to put a definitive value to that it will be largely ignored or given a small token value to say it has been accounted for. On the otherhand if we suddenly decided to use leaves as currency those cutting the trees down would stop and start planting them by the 100,000 immediately.
Price of everything, value of nothing.
