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Please do not focus on partitions the message, specially if there are readings which also address your concern: the real GDP figures were there from the beginni
by tpeo 9y ago
Please do not focus on partitions the message, specially if there are readings which also address your concern: the real GDP figures were there from the beginning.
Now, do you mean that there are fewer researchers or that there are fewer researchers per unit of total population? Either way, you're wrong (http://data.worldbank.org/indicator/SP.POP.SCIE.RD.P6?locations=US http://data.worldbank.org/indicator/SP.POP.SCIE.RD.P6?locati...).
Your postscript is also just wrong. Notice that GDP might be estimated by three different accounting approaches, all of which are mutually consistent. One of them is the net product approach, which takes the value produced by all economic activities/sectors liquid of their expenditures and sums all those up to get the GDP. So two things: first, if something isn't sold in a year, it isn't accounted for in the GDP for that year; second, activities which have no net product have zero impact on GDP. Trade is defined as having zero net product for national accounts purposes, so any sort of capital gains of the sort you're describing has no impact on GDP. It merely shuffles money and assets between hands.
- Retric 9y agoIf you produced an identical house in Arlington VA in 1950 vs 2016 the 2016 version would be worth more above the inflation rate. It's still a new thing so it counts for GDP it also adds more to GDP without somehow actually being better. And yes new housing is a significant share of US GDP. PS: I specially said fundamental research as government funding covers a wide range of R&D.
- deleted 9y ago[deleted]