Re: per capita GDP numbers : bogus?

"Micha³ Gancarski" <wysyisbackTNIJ@xxxxxxx> wrote in message
news:op.ss4d02zuvf27ib@xxxxxxxxxxxxxxxxxxxxxxxxxxxx
> On Tue, 28 Jun 2005 18:46:41 +0200, <royls@xxxxxxxxx> wrote:
>
>>> GDP is only a measure of market value of total consumer goods produced,
>>> nothing more.
>>
>> No, it isn't. It's a measure of volume of economic activity.
>
> GDP measures total amount of goods and services produced. Nothing more. There
> are *so* many problems with this indicator (accuracy, real value estimation,
> lack of information about black markets and so on) that you have almost *no*
> information about the real shape of the economy you examine if you take GDP
> and its dynamics alone.

Yet EVERY neoeconomic Republican apologist presents
GDP as the Holy Grail.

--
"I know no safe depository of the ultimate powers
of society but the people themselves; and
if we think them not enlightened enough to
exercise their control with a wholesome
discretion, the remedy is not to take it from
them, but to inform their discretion by
education." - Thomas Jefferson
http://GreaterVoice.org


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