Posts Tagged ‘GDP accuracy’

  • Italy's and the UK will add marijuana and prostitution to improve GDP accuracy...but will it?

    Should GDP Include Illegal Drug Deals?

    Jun 1, 14 • 351 Views • Economic Debates, Economic Growth, Economic History, Economic Thinkers, Government, Macroeconomic MeasurementNo Comments

    In 1987, Italy decided to include its “off-the-books” economy in its GDP. The result was an 18% boost. Now, further complying with EU accounting regulations, Italy will add illegal drugs, prostitution and black market alcohol and prostitution.