Correction on rates of growth - comment

David Schanoes Schanoes at MNR.ORG
Wed Nov 12 08:54:42 MST 2003


Tying up loose ends...

I think JB makes some very important remarks about GDP growth,
aggregates, and the limitations of the widely distributed statistics.

Regarding the 80s vs. 90s, it can be argued that as opposed to GDP
numbers, indusrial production in the 90s exceeded the rate of growth for
the 80s-- indeed it did-- 24% for the 90s - 17% for the 80s-- but I
think we find ourselves more often than not in the position where we
have to accept the bourgeoisie's standards, not unlike how we must use
the bourgeoisie's money, to get some insight into the transactions of
the economy--  the GDP numbers serve that purpose, that initial
investigation that requires more detailed, and perhaps "disaggregated"
examination.

I had based my original disagreement re the 90s on those generally
accepted numbers ergo the correction.

dms


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