If you have a private firm and you spend a ton of money to pay employees, but what you produce is a flop, there will be no value to GDP. But government spending all gets counted as contributing to economic growth. That's why in the early days of creating these measurements, some people didn't want to count government spending.
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"If you have a private firm and you spend a ton of money to pay employees, but what you produce is a flop, there will be no value to GDP. But government spending all gets counted as contributing to economic growth. That's why in the early days of creating these measurements, some people didn't want to count government spending." — Robert Higgs #moneywealth #politicsgovernment
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If you have a private firm and you spend a ton of money to pay employees, but what you produce…
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If you have a private firm and you spend a ton of money to pay employees, but what you produce is a flop, there will be no value to GDP. But government spending all gets counted as contributing to economic growth. That's why in the early days of creating these measurements, some people didn't want to count government spending. — Robert Higgs
About Robert Higgs
Robert Higgs was a Economist from United States (1944–present).
Frequently Asked Questions
Who said "If you have a private firm and you spend a ton of money to pay employees, but w…"?
This quote is attributed to Robert Higgs, a Economist from United States.
When did Robert Higgs live?
Robert Higgs lived from 1944 – present.
What is this quote about?
This quote touches on Money & Wealth, Politics & Government. Browse more quotes on these themes from the categories page.