It is the most quoted number in economics, yet what it actually measures, and what it leaves out, is often misunderstood.

Recently, some methodological issues have been raised related to coverage in National Accounts Statistics (NAS). Key issues include use of an outdated GDP base year (2011-12), periodic discrepancies ...

Forbes contributors publish independent expert analyses and insights. James Broughel is an economist focused on the economics of regulation. GDP is the total market value of all final goods and ...

Gross Domestic Product (GDP) refers to the final products at market prices produced by all resident units in a country during a certain period of time. GDP is the core indicator of the national ...

Consumption is an always effect of what actually matters: production. It’s a reminder that while “supply siders” are increasingly ridiculous, “supply-side economics” is a statement of the obvious: the ...