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Measuring the Wealth of Nations: The Political Economy of National Accounts

4/5 ( ratings)

This book provides an alternate foundation for the measurement of the production of nations, and applies it to the U.S. economy for the postwar period. The patterns that result are significantly different from those derived within conventional systems of national accounts. Conventional national accounts seriously distort basic economic aggregates, because they classify military, bureaucratic and financial activities as the creation of new wealth, when in fact they should be classified as forms of social consumption that, like personal consumption, actually use up social wealth in the performance of their functions.

Language: English

Pages: 404

Format: Paperback

Publisher: Cambridge University Press

Release: November 28, 1996

ISBN: 0521564794

ISBN 13: 9780521564793

Measuring the Wealth of Nations: The Political Economy of National Accounts

4/5 ( ratings)

This book provides an alternate foundation for the measurement of the production of nations, and applies it to the U.S. economy for the postwar period. The patterns that result are significantly different from those derived within conventional systems of national accounts. Conventional national accounts seriously distort basic economic aggregates, because they classify military, bureaucratic and financial activities as the creation of new wealth, when in fact they should be classified as forms of social consumption that, like personal consumption, actually use up social wealth in the performance of their functions.

Language: English

Pages: 404

Format: Paperback

Publisher: Cambridge University Press

Release: November 28, 1996

ISBN: 0521564794

ISBN 13: 9780521564793

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