GDP & the National Accounts: What they are and why they matter w/ Brendan Markey-Towler - EP153

The National Accounts are a huge intellectual achievement and an incredibly useful set of data, including GDP and its components. Chatting about the National Accounts with Economics Explored host Gene Tunny is fellow economist Dr Brendan Markey-Towler, author of the Substack newsletter Australian Economy Tracker. Brendan explains how the National Accounts help us track the current state of the economy as well as longer-term trends, such as shrinking manufacturing sectors and growing services sectors in many advanced economies. Links relevant to the conversationBrendan’s Australian Economy Tracker Newsletterhttps://australianeconomytracker.substack.com/Brendan’s post discussed in this episodehttps://australianeconomytracker.substack.com/p/australian-wealth-creation-and-distribution?utm_source=emailPlanet Money episode on Simon Kuznetshttps://www.npr.org/transcripts/520294083Australian Financial Review article (pay-walled, alas) which reported “Federal government business generated $1.7 billion in revenue for the big four accounting and consulting firms over the past five years – though the government has a different take on the contract value of that business.”https://www.afr.com/companies/professional-services/revealed-deloitte-ey-kpmg-and-pwc-earned-17b-from-government-work-20180326-h0xymnCreditsThanks to Josh Crotts for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Please consider signing up to receive our email updates and to access our e-book Top Ten Insights from Economics at www.economicsexplored.com. Also, please get in touch with any questions, comments and suggestions by emailing us at [email protected] or sending a voice message via https://www.speakpipe.com/economicsexplored. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.