1st Edition

The Financialization of GDP Implications for economic theory and policy

By Jacob Assa Copyright 2017
136 Pages
by Routledge

136 Pages 23 B/W Illustrations
by Routledge

136 Pages 23 B/W Illustrations
by Routledge

Gross Domestic Product (GDP) and other statistics based on national income accounting are ubiquitous but rarely understood today. GDP has been criticized for many reasons, including not reflecting well-being, leaving out the costs of environmental pollution, and not counting unpaid work, but on purely economic terms it has been mostly accepted as an indicator of economic performance. In recent... Read more

Acknowledgements



Preface



Introduction: The Economic Problem with GDP



Chapter 1. The Ubiquity, Importance and Uniqueness of National Accounting



Chapter 2. National Accounting as a Historically and Politically Contingent Art



Chapter 3. Policy-Based Evidence: A Political History of National Accounts



Chapter 4. The Financialization of GDP



Chapter 5. GDP on FIRE: Financialization, Stagnation and Leakages from Aggregate Demand



Chapter 6. The Distributional Impacts of FGDP



Conclusion

Biography

Jacob Assa is Economic Affairs Officer at the United Nations, New York. Born and raised in Israel, Jacob attended Hunter College in New York, and has been working at the United Nations since 1999. He received his master’s and PhD degrees in economics at the New School for Social Research.