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Wednesday, April 26 • 9:20am - 9:40am
The Shift From Home To Market Production In North Carolina

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Is the apparent rapid growth in real GDP that occurred in the United States during the 1950s to the 1980s an illusion? One of the limitations of national income accounting is that nonmarket production is excluded. This research answers the question: was the relatively rapid rate of GDP growth in the United States a consequence of a shift from what was once produced in the home to market transactions? Home cooked meals became restaurant meals, yard work became landscaping services, and child care became daycare. I will document when the transition occurred through oral historical accounts, and I will adjust official GDP statistics to demonstrate the effect this transition had on measured GDP.

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Wednesday April 26, 2017 9:20am - 9:40am
035 Karpen Hall