Open AccessThe Service Element in National Accounts: A Preliminary Basis for an Alternative Formulation
Author(s) -
Pervez Tahir
Publication year - 1978
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v17i3pp.302-315
Subject(s) - element (criminal law) , spurious relationship , economics , service (business) , focus (optics) , macroeconomics , character (mathematics) , national accounts , neoclassical economics , economy , political science , mathematics , law , statistics , geometry , physics , optics
The raison d'etre of this article is to focus attention on anawkward cor¬ner in the emerging growth pattern of GDP—.thedisproportionate growth and the weight of the service element, which hasimportant implications for the character and structure of economicgrowth. The suggested alternative will be serviceless GDP so as todelineate real growth from spurious growth.