U.S. national income and product statistics: born of the great depression and World War II.

From: Survey of Current Business | Date: February 1, 2007| Author: | Copyright information

THE story of the first U.S. national income and product statistics illustrates how scholarly debates about the definitions of ideal measures gave way to the compromises required to produce real-world economic statistics when the need for such statistics had become critical. Then, as the workings of the economy became better understood--in part, through the use of statistics--economic theory advanced. And, as improved sources of data on incomes, production, and sales were provided, the statistics were improved in turn. The gross domestic product (GDP) statistics of today continue ...

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