UK real GDP registers a disastrous collapse in 2020. But nominal GDP contraction is much less bad. UK’s ONS uses purist definition of public sector output -> if health spending continues but ops canceled -> inflation surges -> real GDP down.
@ChrisGiles_
ft.com/content/c5d72d… https://t.co/GPPmH1HdWq
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…