Swiss Economicblogs.org
We have recently written several essays about the fallacious concept of Gross Domestic Product. Among GDP’s several fatal flaws, it goes up when capital is converted to consumer goods, when seed corn is served at the feast. So we proposed—and originally dismissed—the idea of a national balance sheet. It’s easy (conceptually) to add up all the assets and the liabilities. But the problem is that the falling interest rate...
Read More »The Economic Singularity, Report 11 Aug
