Italy counts Cocaine sales and prostitution as part of GDP

[agenda21nwo]

Probably in the shitty USA economy soon too.


Italy will include prostitution and illegal drug sales in the gross domestic product calculation this year, a boost for its chronically stagnant economy and Prime Minister Matteo Renzi’s effort to meet deficit targets.

Drugs, prostitution and smuggling will be part of GDP as of 2014 and prior-year figures will be adjusted to reflect the change in methodology, the Istat national statistics office said today. The revision was made to comply with European Union rules, it said.


http://www.bloomberg.com/news/2014-05-22/cocaine-sales-to-boost-italian-gdp-in-boon-for-budget.html

[falco]

It will only make sense if it's legal there, wich i doubt.

[Roger Bacon]

Probably in the shitty USA economy soon too.


Italy will include prostitution and illegal drug sales in the gross domestic product calculation this year, a boost for its chronically stagnant economy and Prime Minister Matteo Renzi’s effort to meet deficit targets.

Drugs, prostitution and smuggling will be part of GDP as of 2014 and prior-year figures will be adjusted to reflect the change in methodology, the Istat national statistics office said today. The revision was made to comply with European Union rules, it said.


http://www.bloomberg.com/news/2014-05-22/cocaine-sales-to-boost-italian-gdp-in-boon-for-budget.html

haha... wow

If the US included things like that our GDP would double.

[honest]

I think all income illegal and legal should be contained in GDP figures, just don't reference in tax analysis to make a country's tax base look low overall in comparison, wouldn't put it past a government to use this type of manufactured distortion to raise taxes that will only be paid by the legal parts of the economy that make up the GDP.

[MORTALCOIL]

Considering how much contributes to the GDP the money spent in restaurants, bars, clubs by the average joe to fuck his so-so co-worker, it's only fair we throw prostitution in the mix.

[Tapeworm]

haha... wow

If the US included things like that our GDP would double.

All that money goes

[Roger Bacon]

All that money goes

Maybe I meant to say Mexico's GDP would double. 

[El Diablo Blanco]

With the World cup in Brasil I can only imagine the income being generated by hookers and drugs right now.

[Schnauzer]

Not just Italy

Europe has a new source of economic growth. In the next few months all European Union countries that do not already include drugs, prostitution, and other illegal and gray-market businesses in their gross domestic product calculations will have to do so. 

http://www.bloombergview.com/articles/2014-05-30/sex-drugs-and-accounting-in-europe

[JOHN MATRIX]

It is amazing to me that Italy is still a first world nation, to be honest. The people there are as completely inept as ive ever seen....i know a lot of it is just their laid back culture and personalities...but i just cannot see these people maintianing a major european economy. Tourism must literally prop up the country. If not for their ancient past and the incredible architecture they left behind, italy would literally be a third world country

[Griffith]

It is amazing to me that Italy is still a first world nation, to be honest. The people there are as completely inept as ive ever seen....i know a lot of it is just their laid back culture and personalities...but i just cannot see these people maintianing a major european economy. Tourism must literally prop up the country. If not for their ancient past and the incredible architecture they left behind, italy would literally be a third world country

The north of the country is very industrialised.

Italy produces a lot of machinery, vehicles, chemicals, ceramics, clothing and is a world leader in terms of construction.

The stereotype you mention is based on the life in old cities and of the much poorer south.

[HonestBob]

For true third world Old Europe look no further than Greece and Spain.  I can tell you that the Spanish are the laziest, most incompetent, unintelligent people I have ever come across.

[bigkid]

It is amazing to me that Italy is still a first world nation, to be honest. The people there are as completely inept as ive ever seen....i know a lot of it is just their laid back culture and personalities...but i just cannot see these people maintianing a major european economy. Tourism must literally prop up the country. If not for their ancient past and the incredible architecture they left behind, italy would literally be a third world country

Every Italian guy that I talk to, that actually lives over there, says Italy is a disaster economically.

[Parker]

The north of the country is very industrialised.

Italy produces a lot of machinery, vehicles, chemicals, ceramics, clothing and is a world leader in terms of construction.

The stereotype you mention is based on the life in old cities and of the much poorer south.

60 Minutes did a story on the Italian company Luxottica,  that owns LensCrafters, Sunglass Hut, Pearle Vision, Oakley, Oliver Peoples, and Ray Ban. And makes glasses for a laundry list of designers. It is the largest eyewear company in the world.

[El Diablo Blanco]

60 Minutes did a story on the Italian company Luxottica,  that owns LensCrafters, Sunglass Hut, Pearle Vision, Oakley, Oliver Peoples, and Ray Ban. And makes glasses for a laundry list of designers. It is the largest eyewear company in the world.

Don't forget the exports of San Marzano tomatoes, Wine, Cheese, pasta, flour, cured meats and Oil.  They have a huge farming export business.

[TEH boob]

Not just Italy

http://www.bloombergview.com/articles/2014-05-30/sex-drugs-and-accounting-in-europe

Yep. I think Spain already made that move

[MONSTER_TRICEPS]

Haha, just to look good on paper. Reality is that not a thing is changed. Are people really this delusional? 

[agenda21nwo]

The north of the country is very industrialised.

Italy produces a lot of machinery, vehicles, chemicals, ceramics, clothing and is a world leader in terms of construction.

The stereotype you mention is based on the life in old cities and of the much poorer south.

So the more nordic side of the nation is more advanced than the more arabic side.

[falco]

It is amazing to me that Italy is still a first world nation, to be honest. The people there are as completely inept as ive ever seen....i know a lot of it is just their laid back culture and personalities...but i just cannot see these people maintianing a major european economy. Tourism must literally prop up the country. If not for their ancient past and the incredible architecture they left behind, italy would literally be a third world country

If you don't know what you are talking you wouldn't embarass yourself like this.

[JOHN MATRIX]

If you don't know what you are talking you wouldn't embarass yourself like this.

Huh?