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Opinion

Is GDP an Accurate Measure of Reality?

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Is GDP an Accurate Measure of Reality?
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Frank Shostak
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Commentary

To gain insight into the state of an economy, most economists rely on a common statistic called the gross domestic product (GDP). The GDP looks at the value of final goods and services produced during a particular period, usually a quarter or a year.

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Frank Shostak
Frank Shostak
Author
Frank Shostak, Ph.D., is an associated scholar of the Mises Institute. His consulting firm, Applied Austrian School Economics, provides in-depth assessments and reports of financial markets and global economies. He has taught at the University of Pretoria and the Graduate Business School at Witwatersrand University.