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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.
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 patt
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 patt
The book presents estimates of total wealth for nearly 120 countries, using economic theory to decompose the wealth of a nation into its component pieces: produ
This book is about development and measuring development progress. While precise definitions may vary, development is, at heart, a process of building wealth, t
Countries regularly track gross domestic product (GDP) as an indicator of their economic progress, but not wealth—the assets such as infrastructure, forests,