The Meaninglessness of GDP as an Economic Indicator
Kel Kelly @ January 20, 2009 # No Comment Yet
How’s The Economy Doing? Don’t look to GDP for the answer. While Gross Domestic Product is universally regarded as the prime measurement of economic growth and standards of living, in reality, this mathematical calculation called GDP is, first, mostly a measure of inflation and, second, a measure of spending on consumption of goods as opposed […]
More on page 61
“Fighting Off Depression”
Kel Kelly @ January 14, 2009 # No Comment Yet
In this column, quasi-economist Paul Krugman advocates one form of government manipulation (government spending) over another (printing money). However, our current problem is the result of decades of pursuing precisely these strategies on a daily basis. Contrary to popular opinion, both printing money and government spending were carried out on a massive scale during the […]
More on page 60