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GDP and the Idolatry of Growth

In the middle of the eighteenth century, the physician-turned-economist François Quesnay devised a quantitative model of the economy, among the first of its kind and a precursor to present-day GDP. Quesnay is famous today as among the leading lights of…

In the middle of the eighteenth century, the physician-turned-economist François Quesnay devised a quantitative model of the economy, among the first of its kind and a precursor to present-day GDP. Quesnay is famous today as among the leading lights of an economic theory known as Physiocracy. Like other Physiocrats, Quesnay placed land and agricultural output More

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This content originally appeared on CounterPunch.org and was authored by David S. D’Amato.


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