National Accounts

  • B. R. Mitchell


Whilst it has been the general principle in most sections of this work to prefer raw data to those which have been processed, there are no such things as raw national accounts statistics, and everything in this section is “synthetic”, the result of elaborate calculations by sophistacated statisticians. It is really impossible to summarise briefly all the complex operations involved, and the user who requires descript tion of them is advised to consult the latest United Nations, Yearbook of National Accounts Statistics or for more detail the United Nations , National Accounting Practices in Sixty Countries. Whilst interest in the nation’s wealth and income can be traced in a number of countries as far back as the later middle ages, the modern national accounts concepts date from the period of the Second World War (though what is essentially one of the component concepts, the balance of payments, became operational during the interwar years). Since then a great deal of work has been done in many countries not only to improve the concepts and the collection of current statistical material with which to clothe them, but also to produce retrospective estimates going back, in some cases, a very long way into history.


National Income National Product Capital Formation National Account Current Prex 
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Copyright information

© B.R. Mitchell 1975

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  • B. R. Mitchell

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