nt buildings. These too count as consumption, even if we mightn’t have thought so. They are part of the cost of our survival. That’s why I agree with Kuznets and tradition, although | didn’t always, that consumption includes all of GCE. PCE in 2015 shows as $12.429 trillion. GCE is reported at $2.5855 tri

ay + self-invested work - human depreciation + profit. (6.20) Chapter 6: Parallels with the Firm 2/4/16 22 HOUSE_OVERSIGHT_011056 Where Keynes and Kuznets and macroeconomic tradition have been right is in reasoning that pay and gross profit, meaning gross of depreciation, sum to the “expenditure” spent

d founder of the Acceleration Studies Foundation, recalled an insight of economist Simon Kuznets about evolution of technology effects known as the Kuznets curve: "First- generation tech usually causes `net negative' social effects; second- generation `net neutral' effects; by the third generation of tec

nd founder of the Acceleration Studies Foundation, recalled an=insight of economist Simon Kuznets about evolution of technology effects k=own as the Kuznets curve: "First-generation tech usually causes 'net negative' social effects; second-generation =91net neutral' effects; by the third generation of te