The Myth of Japan's Lost Decades

The Myth of Japan's Lost Decades
- Highlight Loc. 95-98  | Added on Sunday, October 16, 2011, 05:50 AM

The misleading measurement of growth in question is GDP growth, because it is practically the sole indicator used by professionals to assess economic output. The problem is that GDP is in fact not a measure of real, physical production of goods and services, as it is intended to be. It is primarily a measure of inflation, which it is not intended to be.