What is economic activity?

posted by
February 15, 2011
EconLog
by Arnold Kling  
Posted in Commentary

"In standard macroeconomics, economic activity consists of spending. Certainly that is how we measure economic activity, using national income accounts. However, I propose looking at economic activity as patterns of sustainable specialization and trade (PSST). We can break down economic activity into three components ..." (02/14/11)

http://econlog.econlib.org/archives/2011/02/what_is_economi.html  

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