3 ms·
GNP is probably not that great a measure, especially nominal GNP. 100 1970 dollars is around 800 2023 dollars. Also the method of GNP/GDP calculation has change
by jampekka 3y ago
GNP is probably not that great a measure, especially nominal GNP. 100 1970 dollars is around 800 2023 dollars. Also the method of GNP/GDP calculation has changed over time, e.g. finance was not counted as productive until 1993.
Edit: The table in The Limits to Growth explicitly states that it predicts real GNP: "* Based on the 1968 dollar with no allowance for inflation."
https://thenewschool.medium.com/accounting-for-gdp-the-history-and-politics-of-financialization-e77f0d380547 https://thenewschool.medium.com/accounting-for-gdp-the-histo...