Yes, exactly. But modern economics isn't actually measuring that, and I think is in a certain amount of denial about it occurring at all. Economic growth is growth in GDP. GDP is calculated as function of price, and…
Generally speaking, the problem with Economic models is that they are mathematical models of a particular economic theorem or 'identity', as economists sometimes prefer to call them. When you dig into the scientific…
Yes, exactly. But modern economics isn't actually measuring that, and I think is in a certain amount of denial about it occurring at all. Economic growth is growth in GDP. GDP is calculated as function of price, and…
Generally speaking, the problem with Economic models is that they are mathematical models of a particular economic theorem or 'identity', as economists sometimes prefer to call them. When you dig into the scientific…