Amazing. Quick comments on “how much is spent” (GDP).
At first glance this looks like nominal GDP, not adjusted for changes in prices. That’s more literally “how much is spent” but less informative about how people’s welfare and capabilities are changing over time.
Can someone tell me things about when I should expect the next doubling, i.e. in what year should I expect daily global spending to exceed $526 billion? Feels complicated and important; I’m ignorant about what sensible projections are and how much uncertainty there is.
Amazing. Quick comments on “how much is spent” (GDP).
At first glance this looks like nominal GDP, not adjusted for changes in prices. That’s more literally “how much is spent” but less informative about how people’s welfare and capabilities are changing over time.
See the OECD’s long run projections. Note that these are adjusted for changes in prices.