ToddsterPatriot, GDP is measured in our currency of wealth, (i.e. in our case we usually gauge GDP in actual or indexed adjusted U.S. Dollars). It's less meaningful if it's not considered in per capita terms.I do (understand the concept of Import Certificates). But I'm more interested in the increased GDP we'll enjoy if the government stops all banana imports and I can produce US bananas at $1000 each.
How much do you think GDP will increase......ballpark?
It's not subject to judgments of spendings' moral or intelligent priorities; (i.e. a nation can waste their wealth on mind-altering substances such as alcohol or cocaine, vanities or "conspicuous consumptions" or idiocies such as cosmetics, fashion such as name brand gowns and or Holland's era of tulip madness, or as you suggest, $1,000.00 per banana).
An aggregate national population or individual persons can behave more intelligently or more idiotic. We individuals can and often do judge each other's priorities or concepts as less intelligent, or foolish, or idiotic.
Respectfully, Supposn