Not everybody seems to have learned the most important lesson from the current crisis, which is the following: at time of major structural changes and build-up of huge imbalances like ours, it is no longer possible to use only flows (like GDP) as performance indicators, neglecting what happens with most macro-economic stocks (e.g. households' wealth, business debt, quality of banks' assests). The only stock that has been carefully considered for a long time is public debt, but to be honest we are not even able to assess its sustainability correctly beacause by a mere accounting habit we compare it with the GDP, which is a flow.

Fortis, M., Growth to became poorer?, <<ECONOMIA POLITICA>>, 2011; 2011 (1): 5-14 [http://hdl.handle.net/10807/34766]

Growth to became poorer?

Fortis, Marco
2011

Abstract

Not everybody seems to have learned the most important lesson from the current crisis, which is the following: at time of major structural changes and build-up of huge imbalances like ours, it is no longer possible to use only flows (like GDP) as performance indicators, neglecting what happens with most macro-economic stocks (e.g. households' wealth, business debt, quality of banks' assests). The only stock that has been carefully considered for a long time is public debt, but to be honest we are not even able to assess its sustainability correctly beacause by a mere accounting habit we compare it with the GDP, which is a flow.
2011
Inglese
Fortis, M., Growth to became poorer?, <<ECONOMIA POLITICA>>, 2011; 2011 (1): 5-14 [http://hdl.handle.net/10807/34766]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10807/34766
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