Len on Nostr: "Government purchases include any spending by federal, state, and local agencies, ...
"Government purchases include any spending by federal, state, and local agencies, with the exception of debt and transfer payments such as Social Security. Overall, government purchases are a key component of a nation's gross domestic product (GDP)."
Source: Investopedia
Conclusion: GDP is a terrible measurement how an economy is operating because a government can prop it up by spending more.
Published at
2023-07-15 00:15:16Event JSON
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"content": "\"Government purchases include any spending by federal, state, and local agencies, with the exception of debt and transfer payments such as Social Security. Overall, government purchases are a key component of a nation's gross domestic product (GDP).\"\n\nSource: Investopedia\n\nConclusion: GDP is a terrible measurement how an economy is operating because a government can prop it up by spending more.",
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