I'm trying to find a decent source (or sources) of data to determine a rough number equal to the total of expenditures in a year. That is, the total number of dollars spent on every transaction. I know there isn't going to be a figure that is totally accurate, since there is no way to include black markets, etc. GDP is the best I have been able to find, and it leaves out alot of spending (including purchase of stocks, commodities, etc.). I'm sure there has to be a way to compile a figure that is more accurate than that.
Any suggestions?
Thanks,
The Rev
Lifes a piece of shit, when you look at it
Life's a laugh and death's a joke, it's true
Just remember it's all a show, keep em laughing as you go
Just remember that the last laugh is on you
if i gave you 5 bucks and then you gave it back, would that count as two spends? what would be the point of this figure? would it be useful?
Where there is no property there is no justice; a proposition as certain as any demonstration in Euclid
Fools! not to see that what they madly desire would be a calamity to them as no hands but their own could bring
If you gave it to me for something, and then I bought something from you, yes.
Such a figure would be handy to calculate the velocity of money, and to determine its role in price inflation. It seems to me that, if the VoM is especially volitile, then the effect of monetary inflation on price inflation diminishes proportionally with that volitility.
It would also be useful to determine the efficiency of economic activity, as you could compare it against real GDP growth (for example) to determine how many transactions gives you a given amount of increase in real value. I would imagine that the economy (or markets within it) operate at different degrees of efficiency during different parts of the business cycle. It would be interesting to look into that.
Personally, I'm interested in the proportions of total spending in different markets. I think the changes in these proportions could also shed light on the business cycle, and on how new money moves through the economy before its completely absorbed in a general price increase.