The traditional Gross Domestic Product (GDP) reflects the money value of the annual economic output produced by the domestic industries' employees. Thus, the GDP fully accounts for paid work. In contrast, unpaid work remains unconsidered. However, measured in time units, unpaid work clearly...

The article deals with increasing reliance of public economic policy on a few indicators, demonstrated at the public deficit ratio in national accounts. Background is the problem of adequacy between theory and measurement. Some controversial accounting rules concerning the timing and sectoring...