Re:Can Economic Growth Last?
by roymurdock on Monday September 14, 2015 @08:59AM
(#10214814)
Here's a good (but long) resource for anyone who wants to understand how and why we have come to use the conventional measurements of economic growth that we do:
Giovannini (former OECD Chief Statistician) has this to say about the future of economic accounting:
Looking to the future, it is possible to identify
certain trends in the demand for economic statistics that will presumably strengthen in the years to come. In the first place, demand will focus more and more on the services sector (which already accounts for over 70% of GDP in many developed countries), with new forms of
production playing a more important part. The measurement of “intangible” activities will take on increased importance and this should bring about greater integration of economic statistics with social statistics: concepts such as those of human and social capital are already generating interest and becoming the subject of quantification, albeit still in embryonic form.
http://www.oecd.org/std/41746710.pdf
Giovannini (former OECD Chief Statistician) has this to say about the future of economic accounting:
Looking to the future, it is possible to identify certain trends in the demand for economic statistics that will presumably strengthen in the years to come. In the first place, demand will focus more and more on the services sector (which already accounts for over 70% of GDP in many developed countries), with new forms of production playing a more important part. The measurement of “intangible” activities will take on increased importance and this should bring about greater integration of economic statistics with social statistics: concepts such as those of human and social capital are already generating interest and becoming the subject of quantification, albeit still in embryonic form.