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Measures and Motivations: U.S. National Income and Product Estimates During the Great Depression and World War II

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  • Kane, Richard

Abstract

This paper explains the early U.S. Department of Commerce estimates of national income and product during the 1930s and 1940s, focusing on how both economic theory and the needs of policymakers influenced the methods and concepts used. The paper explores the debate between Simon Kuznets, author of Commerce’s first estimates of national income during the Great Depression, and Milton Gilbert, author of Commerce’s first estimates of gross national product (GNP) during World War II, over the meaning and measurement of the nation’s final product.

Suggested Citation

  • Kane, Richard, 2012. "Measures and Motivations: U.S. National Income and Product Estimates During the Great Depression and World War II," MPRA Paper 44336, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:44336
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    File URL: https://mpra.ub.uni-muenchen.de/44336/1/MPRA_paper_44336.pdf
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    References listed on IDEAS

    as
    1. Simon Kuznets, 1937. "National Income, 1919-1935," NBER Books, National Bureau of Economic Research, Inc, number kuzn37-2, March.
    2. William D. Nordhaus & James Tobin, 1973. "Is Growth Obsolete?," NBER Chapters, in: The Measurement of Economic and Social Performance, pages 509-564, National Bureau of Economic Research, Inc.
    3. The Conference on Research in Income and Wealth, 1937. "Studies in Income and Wealth, Volume 1," NBER Books, National Bureau of Economic Research, Inc, number unkn37-1, March.
    4. Simon Kuznets, 1945. "National Product in Wartime," NBER Books, National Bureau of Economic Research, Inc, number kuzn45-1, March.
    5. Simon Kuznets, 1941. "National Income, 1919-1938," NBER Books, National Bureau of Economic Research, Inc, number kuzn41-2, March.
    6. Carson, Carol S, 1975. "The History of the United States National Income and Product Accounts: The Development of an Analytical Tool," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 21(2), pages 153-181, June.
    7. Carol S. Carson, 1975. "The History Of The United States National Income And Product Accounts: The Development Of An Analytical Tool," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 21(2), pages 153-181, June.
    8. Willford Isbell King, 1930. "The National Income and Its Purchasing Power," NBER Books, National Bureau of Economic Research, Inc, number king30-1, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    gross national product; gross domestic product; final product; national income; nipas; national account; wartime planning; fiscal policy; wartime fiscal policy; inflationary gap; great depression; world war II; simon kuznets; milton gilbert; robert nathan; bureau of economic analysis; keynes; clark warburton; colin clark; richard stone; george jaszi;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • B0 - Schools of Economic Thought and Methodology - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • 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
    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

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