Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
All I'm saying is that nominal GDP is a state quantity but that real GDP change is a path quantity (and so is inflation). Maybe this is obvious, to you, but it wasn't to me, especially not from reading about economics.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Fri Feb 27th, 2009 at 10:40:38 AM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series