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by taylodl
1120 days ago
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GDP is useless without a standard calculation for computing the GDP. As it is, each country has its own calculation for GDP, which they tinker with to make it look good. The United States famously did this in the 1980's as it transitioned from a manufacturing economy to a service economy. They also included products and services from abroad if it were an American-owned company creating those products or delivering those services. Another country can count that activity as part of their GDP since it was done within their borders. It's crazy. |
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