The Service Element in National Accounts: A Preliminary Basis for an Alternative Formulation

Abstract

The raison d'etre of this article is to focus attention on an awkward cor¬ner in the emerging growth pattern of GDP—.the disproportionate growth and the weight of the service element, which has important implications for the character and structure of economic growth. The suggested alternative will be serviceless GDP so as to delineate real growth from spurious growth.