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0 sats \ 4 replies \ @Rothbardian_fanatic OP 11 Apr \ parent \ on: A Review of Some GDP Problems Politics_And_Law
As noted in the article, there is also a huge problem with business-to-business transactions because they are not accounted for in ”consumer” transactions.
If you are a sane person, you may not want to count growing numbers of lawyers as a good thing. Accountants, on the other hand, are good because they can tell you or a company what the real shape of their existence in terms of money is. One enhances reality and one distorts it through babel.
I'd argue that growing accountants could also reflect a growth in value destroying rules and complexity
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Yes, that could be, too. If there are new laws that require new accounting, the accountants will do that to keep the reality picture of the company accurate. Can you blame the accountants for complying with the laws that the self-aggrandizing lawyers are constantly making? I can’t.
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I'm not blaming either accountants or lawyers for anything. I'm just pointing out that a lot of the service economy is built to navigate a maze of man-made bureaucratic regulations, and their activity isn't a sign of economic health. It's pretty much the same point you were making about
G, but I was pointing out that even some of the private sector spending is not real economic output either.reply
Yes, I have to agree with you on that. There is an awful lot of non-productive activity going on in the economy, usually due to ”a maze of man-made bureaucratic regulations“. There are a lot of services, though, that are useful productive service activities in the economy.
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