Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
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 Carrie (migeru at eurotrib dot com) on Fri Jun 30th, 2006 at 08:00:40 AM EST
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