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> GDP isn't income at all, they're completely different metrics. Please explain where income comes from if not from the sum of goods and services produced?
by nohuck13 4y ago
> GDP isn't income at all, they're completely different metrics.
Please explain where income comes from if not from the sum of goods and services produced?
- ACow_Adonis 4y agowell, for a start, flows and holdings on foreign investments, interest and monetary flows, international trade, consumption of existing stock (depending on your particular definition of income). but either way, he's fundamentally right.
- nohuck13 4y agoNo, it's just wrong to say they're completely different metrics. The Venn diagram between the economic activity measured by GNI (national income) and the economic activity measured by GDP is almost a circle. US GDP in 2021 was $23 trillion. US GNI (national income) im 2021: was $23.3 trillion. "monetary flows" You're right, remittances and foreign aid are income but not GDP.