What is the definition of Corruption in terms of Macroeconomics?
Corruption (in terms of Macoreconomics) ????????
- 1 decade agoFavorite Answer
NOT looking for the general GOOD!
John Kenneth Galbraith could answer this if he is still Alive!
- psikeyhackrLv 41 decade ago
The entire economics profession ignoring the depreciation of durable consumer goods. But adding those goods to GDP when consumers replace the junk.
Galbraith talked about the planned obsolescence of cars in 1959 but he didn't say the depreciation should be computed or that accounting should be mandatory in the schools.