Robert Higgs
Robert Higgs
Robert Higgsis an American economic historian and economist combining material from Public Choice, the New Institutional economics, and the Austrian school of economics; and a libertarian in political and legal theory and public policy. His writings in economics and economic history have most often focused on the causes, means, and effects of government power and growth...
NationalityAmerican
ProfessionEconomist
Date of Birth1 February 1944
CountryUnited States of America
counted creating days early economic firm gets government money pay people private produce spend spending ton value
If you have a private firm and you spend a ton of money to pay employees, but what you produce is a flop, there will be no value to GDP. But government spending all gets counted as contributing to economic growth. That's why in the early days of creating these measurements, some people didn't want to count government spending.