Jun 1, 14 •
410 Views •
Economic Debates, Economic Growth, Economic History, Economic Thinkers, Government, Macroeconomic Measurement •
Elaine Schwartz •
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.
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