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There is a powerful technique for working out why an author thinks what they do: reading the entire article. His basic thesis can be summarised with "The short
by roenxi 2y ago
There is a powerful technique for working out why an author thinks what they do: reading the entire article.
His basic thesis can be summarised with "The short version of the story is this: GDP is a measurement of everything produced within a country’s borders. Imports are produced outside a country’s borders. So imports don’t add to or subtract from GDP. Imports simply aren’t counted in GDP at all." and he justifies it using other words. It is quite a reasonable argument - the accounting formula for GDP (C + I + G + (X − M)) is misleading because the M isn't a subtraction but an adjustment to prevent something like double-counting.
- cosmicgadget 2y agoYou seem to be arguing for the substacker's opinion on GDP calculation and totally ignoring what my comment was about. Which is kind of weird given the snark.