Growth to became poorer?

Marco Fortis

Research output: Contribution to journalEditorial

Abstract

Not everybody seems to have learned the most important lesson from the current crisis, which is the following: at time of major structural changes and build-up of huge imbalances like ours, it is no longer possible to use only flows (like GDP) as performance indicators, neglecting what happens with most macro-economic stocks (e.g. households' wealth, business debt, quality of banks' assests). The only stock that has been carefully considered for a long time is public debt, but to be honest we are not even able to assess its sustainability correctly beacause by a mere accounting habit we compare it with the GDP, which is a flow.
Original languageEnglish
Pages (from-to)5-14
Number of pages10
JournalEconomia Politica
Volume2011
Publication statusPublished - 2011
Externally publishedYes

Keywords

  • GDP
  • PIL
  • crescita economica
  • crisi mondiale
  • debito pubblico
  • economic growth
  • households' wealth
  • public debt
  • ricchezza privata
  • world crisis

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