In standard macroeconomic models, GDP is GDP and an industry is important only to the extent that it produces GDP. In other words, there are big industries and small industries but there are no special industries. The standard view implies that the structure of production can be ignored. It doesn’t matter, for example, whether an […] The post In Understanding Business Fluctuations Not all GDP is Equal appeared first on Marginal REVOLUTION.
Authors
- Published in
- United States of America
- Rights
- © Alex Tabarrok
