How we caught the economic growth bug, but may shake it off
Updated: Jan 5
Ross Gittins' piece on GDP this weekend refer to Changing Fortunes.
In his recent history of the federal Treasury, Paul Tilley noted that it was just a department full of bookkeepers until the upheavals of the Depression caused its political masters to ask questions about what they should be doing that it couldn’t answer. That’s when Treasury became macro-economists.