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Rethinking GDP

GDP
On March 12th, before the United States Senate Committee on Commerce, Science and Transportation, Subcommittee on Interstate Commerce, hearings were held on “Rethinking the Gross Domestic Product as a Measurement of National Strength.” The testimony contains some very interesting historical background on the evolution of GDP as an instrument for measuring national wealth. Look especially at the testimony of Jonathan Rowe, of the West Marin Commons. Parts of his statement were reprinted in the June issue of Harpers, p.17, under the title "Our Phony Economy".

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