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Why GDP is a 20th Century Measure of a 21st Century Economy

By Donald Sears ⋅ October 30, 2009 ⋅ Post a comment

The U.S. Gross Domestic Product (GDP) rose a healthy 3.5 percent in the third quarter, and everything is swell again. Employment and consumer confidence should be rising right behind it. Right?
Maybe not, said Michael Mandel, chief economist at BusinessWeek. Mandell calls the GDP an outdated measure of the economic performance and argues that it relies [...]

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