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.
Lingua originale | English |
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pagine (da-a) | 5-14 |
Numero di pagine | 10 |
Rivista | Economia Politica |
Volume | 2011 |
Stato di pubblicazione | Pubblicato - 2011 |
Pubblicato esternamente | Sì |
Keywords
- GDP
- PIL
- crescita economica
- crisi mondiale
- debito pubblico
- economic growth
- households' wealth
- public debt
- ricchezza privata
- world crisis