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The Myth of Japan's Lost Decade- (The Atlantic)


JAllen
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It's the undeserved emphasis that observers give the GDP statistic that cause people to make wildly wrong characterizations:

 

Witness this awesomely absurd quote on how easy it is to mess with GDP:

 

“When it comes to the economy, it’s all about how much you spend,” said Mitsubishi UFJ’s Ishigane. “Even if you build a pyramid, destroy it and rebuild it, you can increase GDP.”

 

http://www.bloomberg.com/news/2011-03-17/japan-s-government-bonds-may-fall-paring-weekly-gain-as-yen-halts-rally.html

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It's the undeserved emphasis that observers give the GDP statistic that cause people to make wildly wrong characterizations:

 

Witness this awesomely absurd quote on how easy it is to mess with GDP:

 

“When it comes to the economy, it’s all about how much you spend,” said Mitsubishi UFJ’s Ishigane. “Even if you build a pyramid, destroy it and rebuild it, you can increase GDP.”

 

http://www.bloomberg.com/news/2011-03-17/japan-s-government-bonds-may-fall-paring-weekly-gain-as-yen-halts-rally.html

 

Exactly, here is how you increase GDP.

 

http://www.sbs.com.au/dateline/story/watch/id/601007/n/China-s-Ghost-Cities

 

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