A Suggestion that the Term "Net Output Value" be Used to Replace "Gross Output Value" as the Major Economic Index

Wan Dianwu

Chinese Economy, 1980, vol. 13, issue 4, 98-103

Abstract: In 1830, following the advance of capitalist industrial production, Sweden was the first to adopt in its statistics the index of "gross output value." In 1850 America started the statistics on gross output value. And after that, Britain, Germany, Russia, and Canada also successively adopted this index. Nevertheless, because of the drawbacks of the index itself, some countries later switched to "net output value" or other similar indexes. In 1932 America adopted the index of "net value added" (referring to the value newly added to the object of labor, that is, net output value plus depreciation charge of fixed assets). Since the Second World War, many countries have adopted this index. Now out of the 101 countries and areas recorded by the >u>Yearbook of Industrial Statistics>/u> compiled by the United Nations, 87 collect numerical data on "gross output value," 88 collect numerical data on "new value added," and 80 collect both.

Date: 1980
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