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..the stuff it measured. Deltas in manufacturing volume. More steel = more GDP. More refrigerators = more GDP. There were always ambiguities. More lawyer fees
by dalbasal 7y ago
..the stuff it measured. Deltas in manufacturing volume. More steel = more GDP. More refrigerators = more GDP.
There were always ambiguities. More lawyer fees = more GDP? Questionable. But... The portion of simple more=more economic outputs has really shrunk relative to the ambiguous ones where more<>more or price=0 or whatnot.