Saturday, August 21, 2021

That Which is Measured

I am taking the quote verbatim from Byte Size Blog:

"English economist William Petty unknowingly developed the concept of Gross Domestic Product (GDP) in the 1600s to investigate high taxation on landowners. The modern concept of GDP was developed by American economist Simon Kuznets in 1934 as a tool to measure the economy."








Image credit - New Yorker. 'Can We Have Prosperity Without Growth?'


-

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Oppenheimer and Oscar Economics

This  article  is quite long, but has important modern implications.  Source: Michael Ramirez, The Gazette.

  • Budget 2019 Discussion
    How are you going to contribute to the nations in terms of closing the wealth inequality gap?
  • Malaysia and Economic Recovery
    In Tinta Minda, BERNAMA. Malay article. Excerpt: "Laporan prestasi ekonomi negara pada suku ketiga pada 2020 yang diumumkan Bank Negara...
  • Great Recession vs. Great Depression
    Please read the article by Paul Krugman in the New York Times at the link given below and give your comments as what Malaysia had experience...