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This edition: GDP/GNP





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Episode Details

In 1929 following the stock market bottoming out, Simon Kuznets led an investigative study resulting in the first national data collection of Gross National Product (GNP). Able to assess the overall production to consumption ratio of the U.S., Franklin Roosevelt entered World War II without jeopardizing the basic needs of his citizens. Although GNP was changed to GDP (Gross Domestic Product) in 1991, it still didn't account for all aspects of economic growth. Nonetheless, GDP data measurements help us understand the U.S. economy.