Friday, April 30, 2010

The Value of the Household Economy

In the 1981, the value of the economic production by households was estimated by Robert Eisner and his colleagues at Northwestern to total $1,709 billion. That amounted to 37.5 percent of the “extended GNP” of $4,560 billion. In 1998, Redefining Progress, a nonprofit organization based in San Francisco, pegged the value of household work in 1998 at a total of $1.911 trillion – about one quarter the size of the U.S. gross domestic product (GDP) that year.

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