Measuring the Wealth of Nations: The Political Economy of National Accounts
Measuring the Wealth of Nations: The Political Economy of National Accounts By Anwar M. Shaikh, E. Ahmet Tonak
1996 | 404 Pages | ISBN: 0521564794 , 0521414245 | PDF | 23 MB
1996 | 404 Pages | ISBN: 0521564794 , 0521414245 | PDF | 23 MB
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.