Prostitution & Drugs to be Counted in GDP

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COMMENT: Mr. Armstrong; For those of us who have attended your conferences over the years when I read the Japan Times, I had to really laugh. You have been saying that we cannot compare GDP among nations because they all have different formulas. The UK has formally announced it will now include prostitutes and the drug trade because it is counted in other countries where it is not illegal in order to present a fair comparison. Looks like everything you have been saying is coming true.



REPLY: Yes, this is a good laugh. Gambling is included in the economy of Nevada although it is illegal elsewhere. This is a true statement. There has to be a unified formula that is free from political manipulations. Only then can we really compare one nation against another.