It takes time to change the national income accounts. The BEA is very cautious and deliberate. They consult with lots of people, produce some numbers, put them out for review, rinse and repeat. My impression is that it's a fairly autonomous process. Politicos don't care much about the gestation stage, usually its beyond them technically, and once some change is ready the politics of the change are usually innocuous. So the train rolls along.
> ----- Original Message ----- > From: Michael Perelman > Sent: 01:27 pm > To: Progressive Economics > Subject: Re: [Pen-l] "natural capital" > > I know that Reagan's ketchup is old news. The relevance is that the > definition of > capital is very fluid. If software is capital, why wan't it capital 25 > years ago? > > > > > On Fri, Apr 25, 2008 at 01:19:01PM -0400, Doug Henwood wrote: > > > > On Apr 25, 2008, at 1:04 PM, Michael Perelman wrote: > > > >> The government now regards software as capital & ketchup as a > vegetable. > > > > The second is ridiculous - and about 25 years out of date - but the > first? > > Why is software not capital? A computer is. What's a computer without > > software? Would firmware be capital because it's software embedded in > > hardware but not pure software? I don't get why these two things are > > equally silly. > > > > Doug > > _______________________________________________ > > pen-l mailing list > > [email protected] > > https://lists.csuchico.edu/mailman/listinfo/pen-l > > -- > Michael Perelman > Economics Department > California State University > Chico, CA 95929 > > Tel. 530-898-5321 > E-Mail michael at ecst.csuchico.edu > michaelperelman.wordpress.com > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l >
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