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If you keep making more stuff, GDP grows by any numeraire, but if you can not make more stuff some numeraires will show a growing GDP and some a shrinking? Would that be a fair summary?
Yup, thanks for putting my unreadable stuff in understandable form. It is also possible for the PPF to expand in such a way that the GDP contracts by some numeraires but expands by others while the amounts of all products also increase, but I don't know how contrived that is. It doesn't require nonconvexity so it is not too contrived.

Here is my original gold-for-soybeans example, half-way down the diary.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Fri Jun 30th, 2006 at 08:00:40 AM EST
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