Ep. 130: Demystifying GDP
The Seen and the Unseen - hosted by Amit Varma
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The Origins of National Income
GDP came about before the Second World War. The origins do go back to petty but in the true form, it actually came up in the 20th century. And I think there's a court that warfare is the mother of invention. When Hoover was hit by the Great Depression, he was still thinking that the market is going to solve itself. So why do you need to measure GDP or national income? All this changed with the Great Depression and Keynesianism.
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