Real Gross Domestic Private Product, 2000–2012
By Robert Higgs
This article appeared in the Summer 2013 issue of The Independent Review


Until World War II and the postwar years, when the federal bureaucracy institutionalized the government’s preferred method for calculating national income, economists offered sound arguments for excluding government spending from estimates of gross domestic product. Using their general approach reveals that the private economy’s performance for the past thirteen years has been only somewhat better than complete stagnation.

Other Independent Review articles by Robert Higgs
    Fall 2015   How Big Is Government in the United States?
    Summer 2015   Gross Domestic Product—an Index of Economic Welfare or a Meaningless Metric?
    Spring 2015   Compassion—a Critical Factor for Attaining and Maintaining a Free Society
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