The Measure of Economies

Auteur

Marshall B. Reinsdorf is a former senior economist with the International Monetary Fund. Louise Sheiner is a senior fellow at the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution.

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"How do we measure economic productivity if not by GDP? Traditional economic methods, including GDP, tell us that productivity has slowed dramatically in the US and other developed economies over the last two decades. This has led to calls for all manner of government interventions, including revised tax policies and the strengthening of antitrust measures to increase competition. But are our twentieth-century economic methods actually measuring our twenty-first-century productivity? The Measure of Economies offers a practical overview of measuring productivity in economics in a world where GDP is no longer a catch-all. With chapters authored by leading economic experts, it is at once an intervention against the insufficiency of old practices and a cutting-edge guide to their alternatives. It is an essential resource for social scientists and researchers for a century of change in the output of nations"--