Posts Tagged ‘consumption goods’

Consumption Spending Is 70% of GDP: So What?

Thursday September 23rd, 2010   •   Posted by Robert Higgs at 12:40am PDT   •   4 Comments

It must be a condition of employment that a journalist who writes about the current recession include in his article the statement, �consumption makes up more than two-thirds of the economy� or �consumption spending accounts for 70 percent of GDP.� This seemingly simple, factual statement, however, is nearly always intended to carry some explanatory…
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