National Accounts
Arriving at a figure for the total production of goods and services in a large region like a country entails a large amount of data-collection and calculation. Although some attempts were made to estimate national incomes as long ago as the 17th century, the systematic keeping of national accounts, of which these figures are a part, only began in the 1930s, in the United States and some European countries. The impetus for that major statistical effort was the Great Depression and the rise of Keynesian economics, which prescribed a greater role for the government in managing an economy, and made it necessary for governments to obtain accurate information so that their interventions into the economy could proceed as well-informed as possible.
Read more about this topic: Measures Of National Income And Output
Famous quotes containing the words national and/or accounts:
“The national anthem belongs to the eighteenth century. In it you find us ordering God about to do our political dirty work.”
—George Bernard Shaw (1856–1950)
“... by and large, wife-changing and high office are not compatible. This inequity accounts for the many dull women in Washington and is the cause of much smug complacency on the distaff side of political marriages.”
—Barbara Howar (b. 1934)