Friday, 30 May 2014

Drugs and prostitution

The European Union has ordered member countries to include the sale of illegal drugs, counterfeit cigarettes and perfume, and prostitution in their official GDP growth figures. So far only Italy has said it will comply with this ruling.

It's not clear how any country could actually measure the sale of illegal goods and services (noting that prostitution is not actually illegal in most EU countries). Police seizures of drugs would measure drugs not consumed rather than the amount produced and sold.

Most likely this new rule will never really take effect, but it is a sign of how desperate officials are for any evidence of economic growth.

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