Where economic reporters get it wrong, according to an actual economist.
To: Academiadotorg
Gross output. Anything from a democrat’s mouth.
2 posted on
05/23/2016 8:02:20 AM PDT by
Robert A Cook PE
(I can only donate monthly, but socialists' ABBCNNBCBS continue to lie every day!)
To: Academiadotorg
I don’t get his distinctions - isn’t what a manufacturer uses to build his products also finished goods? Is an engine not a finished good to a car manufacturer?
4 posted on
05/23/2016 9:56:03 AM PDT by
aquila48
To: Academiadotorg
Skousen notes that because "...GDP just measures the value of finished goods and services…" it fails to account for "…the spending by business to get you to the finished products…" In a country with a non-gold based paper money system, GDP/GNP is more a measure of the amount of spending, and is related to the total amount of money in the economic system, rather than the total physical volume of output of the economic system
5 posted on
05/23/2016 10:09:42 AM PDT by
mjp
((pro-{God, reality, reason, egoism, individualism, natural rights, limited government, capitalism}))
To: Academiadotorg
according to an actual economist Economics is too important to be left with the experts.
Ludwig von Mises
6 posted on
05/23/2016 12:58:24 PM PDT by
MosesKnows
(Love Many, Trust Few, and Always Paddle Your Own Canoe)
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