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Politics : Ask Michael Burke
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To: Skeeter Bug who wrote (77568)3/10/2000 4:23:00 PM
From: Mike M2  Read Replies (3) of 132070
 
Skeeter, perhaps BGR can explain why no other nation uses chain weighted GDP and why the US did not implement it until 1996 . Like Slick would say it depends on what you mean by growth. When Andrew Carnegie brought the Bessemer process back from England he was able to boost output and reduce costs dramatically - no politician had to invent the conept of chain weighted GDP the growth was real and substantial. The use of steel in rail was a dramatic improvement over pig iron - no hedonic pricing there!. Mike ho ho ho
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