Originally published on Thu May 31, 2012 8:53 am
GDP contains multitudes. Everything we manufacture. Every plumber who fixed a sink, every accountant who carried the one and divided by five — all the goods and services we produced.
It was invented by a guy named Simon Kuznets during the the Great Depression, when everybody wanted to know just how bad things were.
Now the number is put out by Steve Landefeld at the government's Bureau of Economic Analysis.
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