Posts Tagged ‘national income accounting’

  • 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 • 504 Views • No 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....  [read more]

  • World War II industrial mobilization

    Winning World War II With Numbers

    Sep 2, 12 • 317 Views • No Comments

    The year was 1940. Seeing that war might be imminent, President Roosevelt approached the president of General Motors. Wartime conversion was the issue. To become an “arsenal of democracy,” how could we produce planes instead of Pontiacs? With...  [read more]

  • Vacuum cleaner.

    Home Economics

    May 29, 12 • 237 Views • No Comments

    What if we think of a household as a production unit that does child care, gardening, cooking and cleaning? And, if the work in the home is “outsourced” when people hire a nanny, a housekeeper, a gardener or do take-out for dinner, then the GDP reflects...  [read more]

  • Job Gains in Texas and Losses in Caifornia and Florida

    Home Work

    Sep 3, 11 • 260 Views • No Comments

    More unemployed means more people at home. One study asked, what are the unemployed doing? During every day’s “foregone market work hours,” unemployed people are occupied with home production, leisure, and job search. The day’s time...  [read more]

  • 15816_8.11_000010118282XSmall

    How Are We Spending Our Money?

    Aug 11, 10 • 227 Views • No Comments

    Has the recession changed how we spend? Here are the numbers that give some answers according to a summary from Michael Mandel, former BusinessWeek chief economist.: Since the 4th quarter of 2007, we have spent more on: 1) telephone equipment/up by 16.6% 2)...  [read more]