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I've often wondered how this should be dealt with in countries (specifically thinking of Eastern Europe) where large potions of the economy are off the books.
by wheels 7y ago
I've often wondered how this should be dealt with in countries (specifically thinking of Eastern Europe) where large potions of the economy are off the books. I've assumed it would significantly skew GDP / GDP per capita figures if such values were included, and wondered how it would affect general quality of life indicators in places where even engineers often work in the unreported economy.
- AmericanChopper 7y agoOr even countries where the USD or Euros are commonly used unofficially.
- H8crilA 7y agoAdding grey zone activity to GDP numbers a great trick to increase the available govt debt ceiling without compromising the debt/GDP % numbers. I'm wondering if the US will do the same, given how large the deficit already is.
- hurricanetc 7y agoNeither party in the US actually care about the debt or deficit. If we add illicit activity into the GDP it will be so that whoever is President can claim more GDP growth.
- wincy 7y agoI’ve heard it speculated that if we accurately accounted for hidden wealth obtained illegally that Vladimir Putin is actually the richest man in the world. https://www.todayifoundout.com/index.php/2019/12/is-vladimir-putin-the-richest-person-in-the-world/ https://www.todayifoundout.com/index.php/2019/12/is-vladimir...