The Evolution of GDP

Kuznets was given the task of developing the measure of total output of the country. Coosinence did not want to include government expenditure in his calculations of GDP because his opinion was that if the government is spending on warfare, that is essentially a negative thing. And which basically gives us the notion that he did have that notion of welfare in mind, right? He was not just thinking of a physical material output. In fact, an interesting insight here when Wesley Mitchell, an NBR was given the first NBR report of 1929 or 21 was about GDP. The founding fathers of NBR had said, is there enough income to provide a decent living to everybody? Is the income growing at