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I think there is a difference between moving money around and adding value to it. It would be simplistic to think of adding value only as manufacturing. The retail store like Wal-mart allows a person to buy a hundred different products from places as far away a china all in one trip instead of going to each manufacture separately. You are right to list government building a bridge as adding something.The general rule is that government does simply move money around and porivate industry does add value but it is not that black and white.I believe the notion of net GDP comes from economists and not merely from American Thinker - they are just the reporters. If this is the way economists always operate then how can we trust any of their theories as anything more than rough approximations of reality?So is the approximation good enough so that when it predicts government Net GDP falling to half of what it is at best should we be concerned? I suspect that the approximations are accurate within 10% of reality.
I think there is a difference between moving money around and adding value to it. It would be simplistic to think of adding value only as manufacturing. The retail store like Wal-mart allows a person to buy a hundred different products from places as far away a china all in one trip instead of going to each manufacture separately. You are right to list government building a bridge as adding something.
The general rule is that government does simply move money around and porivate industry does add value but it is not that black and white.
I believe the notion of net GDP comes from economists and not merely from American Thinker - they are just the reporters. If this is the way economists always operate then how can we trust any of their theories as anything more than rough approximations of reality?
So is the approximation good enough so that when it predicts government Net GDP falling to half of what it is at best should we be concerned? I suspect that the approximations are accurate within 10% of reality.
