<< At least you appear to have stopped associating GDP with all sorts of irrelevancies, Ludwig. >>

Never did, Pericles, and you know it. The crux of my argument is that GDP is NOT ‘associated’ with ANY of the numerous very important economic and social parameters… which you amazingly brand as ‘irrelevancies’!!

Then you wander off into some weird state of self-delusion with this…

<< As a result of which, you obviously now regret that blithely ignorant comment of yours that started this little conversation...“GDP. It is a most terribly flawed economic indicator, which adds all sorts of negative factors to the positive side of the ledger, such as increased economic turnover as a result of fires, floods, cyclones, illnesses due to smoking or alcohol” >>

Sorry to disappoint you, but that statement remains rock solid.

I asked:

>> …what on Earth is GDP all about?? <<

You replied:

<< GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. I thought that we had finally agreed that. >>

Um…Yes….Wow….Wonderful. That helps enormously! (:>|

I asked:

>> ...giving us a number each financial year, which can be compared over time, and with other countries. But what on earth are we actually comparing? <<

You replied:

<< GDP >>

Haahahaa! Thankyou so much for that wonderful insight!

<< What would you like to compare? >>

Um….how about standard of living, quality of life, quality of environment, quality of resource base, rate of increase in renewable energy sources as a percentage of total energy consumption, rate of increase in value-adding industries as a percentage of all industrial produce, rate of increase in poverty-alleviation, rate of decrease in population growth and hence increase in progress towards a stable population and sustainable society, percentage of economic growth that actually contributes to an increase in prosperity, and many other parameters that indicate how well we are really travelling economically and socially….ALL of which have got NOTHING to do with GDP!!

Comparing GDP over time and with other nations tells us sweet STUFF ALL!!

Ok, I give up.

Stay ignorant.

OK, three big posts was a bit overwhelming.

So lets take it one step at a time. Can you answer this:

>> It is very interesting that imports are the only thing that is excluded from GDP, and yet imports generate a whole lot of economic activity. I wonder how that really works. Obviously lots of businesses sell imported goods. Their profits get counted within GDP, do they not? So, exactly what is it about imports that doesn’t get included in GDP? <<

Clearly, economic revenue is gained from the selling of imports by retailers. So can you tell me if economic growth derived directly from imports is added to GDP or not? And what about all the secondary economic activity associated with imports – the transport, the money that importers and retailers of imported goods spend when they buy other goods and services, etc?

Good to see Big Clive has had his eyes opened and now sees what lying SKUNKS Abbott and co really are. Don't trust em' Clive!

<< Stay ignorant. >>

But Pericles, I am trying to learn.

I want to know about the real relationship of imports to GDP. I would have thought that this is a very worthwhile aspect to get a handle on, and that you could tell me all about it.

LUDWIG/QUOTE..<<.But Pericles, I am trying to learn.>>

but teachers only need stimulate the wiLL TO KNOW
BUT I WILL CHANNAL THIS SPIRIT OF P

http://en.wikipedia.org/wiki/Pericles

Pericles also fostered Athenian democracy
to such an extent that critics call him a populist.

ludwig simply asks the oricol OF POPULARISM..<<..I want to know about the real relationship of imports to GDP.>>

thats simple its a different set[both are SELF SUFFICIENT;as collectIVES OF SPECIFIC NUMBERS;GDP;EXCLUDES IMPORTS]..thaNK YOU SIRE*]

<<>.I would have thought/that this is..a very worthwhile
aspect to get a handle on,..and that you could tell me all about it.>>

If the mountain woNT COME TO MAHAMOUD
some go the mountain/others maINTAIN/THEN AGAIN;OTHERS GIVE UP

BUT QUITTERS NEVER WIN
AND whiners never quit/thank you for your wIT LOKI