[lbo-talk] Uncle Miltie, he dead

Doug Henwood dhenwood at panix.com
Mon Nov 20 04:59:58 PST 2006


On Nov 19, 2006, at 7:43 PM, Mike Ballard wrote:


> Do any of the the money measurements: M 1, M 2, and so on tell a
> person the amount of use values (good and services) produced in any
> given time frame?

No. That's roughly what GDP is - the total value of goods and services produced within a nation during a year (or quarter, typically expressed at an annual rate). I say roughly because it includes some things, like missiles and jail construction, you might not think of as a use value, and excludes household-produced items and depreciation of the natural environment.

Doug



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