It is regrettable that 'economists' have to use the bogus GDP statistics to talk about the macroeconomy and to be regarded legitimately as an 'economist.' I am sure that most Austrian economists go along just to maintain their reputation as an economist. There is no other science or technology that has an index that is so full of fallacies, except maybe global warming.
The empiricists want a number, fine. What about savings from income? It is real, it is empirical, it signals economic growth.
When will the science of economics gain precedence over the quackery of Keynesianism and the irrelevance of positivism? It may not yet be the time for subjectivists to present indexes that tell the economic story but let's not forget that GDP can be interpreted in a million different ways since it actually has no real substance other than GDP at time #2 is different than GDP at time #1. Even that is probably of little value since what makes up GDP over time changes to satisfy corrupt political aspirations.
For more information go to my website.
To earn a Masters Degree in Divine Economy Theory go here.
Go here to read about MACRO & MICRO Economics Renewed.