TITLE

Gross Actual Product: Why GDP Fosters Increased Government Spending and Should Be Replaced

AUTHOR(S)
Strow, Brian Kent; Strow, Claudia Wood
PUB. DATE
November 2013
SOURCE
Journal of Private Enterprise;Fall2013, Vol. 29 Issue 1, p53
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Calls for increased government spending or transfer payments under the guise that they will increase economic growth as measured by Gross Domestic Product are tautological at best. If one defines growth as more government spending, then more government spending will by default increase "growth." By reassessing historical data in light of voluntary transactions, this paper illustrates how the use of Gross Domestic Product has influenced policy makers to engage in policies that have slowed wealth creation. The authors demonstrate how GDP itself has been used as a tool to increase the size and scope of government and propose an alternative measurement to better measure growth.
ACCESSION #
93429949

 

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