Re: What value GDP

On May 29, 7:04 pm, mally <Malc...@xxxxxxxxx> wrote:
An eminent Cambridge (England) professor of economics discovered,
after investigation, that a 10% growth of a particular nation turned
out to be a real growth of 2% when he factored in destruction of
assets. It occured to me that GDP, a measure of economic activity was
perhaps irrelevant; a bit like measuring the amount of gambling taking
place and ignoring the winnings and losses.

What I want to know is why do nations not present a balance ***
which would make it easier to establish their financial performance.
Surely this would not be difficult for most governmental statistics
departments.

Any ideas?

Government statistics have an aura of authenticity to the unitiated.
But they can be easily doctored for political purposes. Moreover, such
statistics as GDP, CPI, jobs, unemployment rate, etc. are flawed
conceptually as well as methodologically.
.

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