For decades, a state's growth was measured by relying only on the production approach, or by gauging what factories, farms, and services within its borders produced. That model is now set for an ...

Recently, some methodological issues have been raised related to coverage in National Accounts Statistics (NAS). Key issues include use of an outdated GDP base year (2011-12), periodic discrepancies ...

What is "well-being"? Here, we do not consider happiness or overall welfare, but rather the material standard of living, ...

Forbes contributors publish independent expert analyses and insights. James Broughel is an economist focused on the economics of regulation. GDP is the total market value of all final goods and ...

Consumption is an always effect of what actually matters: production. It’s a reminder that while “supply siders” are increasingly ridiculous, “supply-side economics” is a statement of the obvious: the ...