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A Review Essay on GDP: A Brief but Affectionate History by Diane Coyle

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  • Moshe Syrquin

Abstract

GDP, the most fundamental concept of aggregate economics, is often misunderstood and misused. In a brief book, Diane Coyle attempts to demystify and clarify the concept by providing what she calls "an affectionate history." The product is a lucid and clear presentation that however must come with a caution sign. The story is often incomplete, and what it does contain is not always accurate. Among the salient and controversial topics discussed are the adequacy of GDP for the twenty-first century, the deficiencies of GDP as a measure of welfare, and the strange way in which banking services are calculated.

Suggested Citation

  • Moshe Syrquin, 2016. "A Review Essay on GDP: A Brief but Affectionate History by Diane Coyle," Journal of Economic Literature, American Economic Association, vol. 54(2), pages 573-588, June.
    • Handle: RePEc:aea:jeclit:v:54:y:2016:i:2:p:573-88
    Note: DOI: 10.1257/jel.54.2.573
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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