GDP is a rather poor measure of wealth, and was never intended to be a measure of wealth but of something related to productivity. Since its inception it has never been a stable metric, as standards on how the measure is defined have changed radically over time in response to obvious flaws for any of its many applications. There is widespread and substantial disagreement on what it should measure and for which purposes it is a suitable metric.
It is empirically moderately well correlated with some sort of aggregate economic power of a state, and (when divided by population) some sort of standard of living of its population. As per Goodhart’s Law, both correlations weakened when the metric became a target. So the question is on shaky foundation right from the beginning.
In terms of more definite questions such as price of food and agricultural production, that doesn’t really have anything to do with GDP or virtual reality economy at all. Rather a large fraction of final food price goes to processing, logistics, finance, and other services, not the primary agriculture production. The fraction of price paid by food consumers going to agricultural producers is often less than 20%.
GDP is a rather poor measure of wealth, and was never intended to be a measure of wealth but of something related to productivity. Since its inception it has never been a stable metric, as standards on how the measure is defined have changed radically over time in response to obvious flaws for any of its many applications. There is widespread and substantial disagreement on what it should measure and for which purposes it is a suitable metric.
It is empirically moderately well correlated with some sort of aggregate economic power of a state, and (when divided by population) some sort of standard of living of its population. As per Goodhart’s Law, both correlations weakened when the metric became a target. So the question is on shaky foundation right from the beginning.
In terms of more definite questions such as price of food and agricultural production, that doesn’t really have anything to do with GDP or virtual reality economy at all. Rather a large fraction of final food price goes to processing, logistics, finance, and other services, not the primary agriculture production. The fraction of price paid by food consumers going to agricultural producers is often less than 20%.