Economists have long argued that the gross domestic product has many flaws as a measure of well-being and policy success.
Yet thereâs a good reason itâs still being used: Thereâs a certain magic to it, despite its science being somewhat iffy.
On Monday, the National Bureau of Economic Research published a paper by Harvard economist Martin Feldstein detailing an argument he has been making for years â that GDP calculations underestimate actual growth and productivity.
This optimistic argument is ...
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