Part 2, Chapter 9, Reproduction (for Economists), p. 114 (Case as per text.)
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Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. … In developed capitalist economies, private consumption spending accounts for half or more of GDP.
— Jim Stanford
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "Apart from their work and production, households perform other important economic functions. Most CONSUMPTION occurs within the household. … In developed capitalist economies, private consumption spending accounts for half or more of GDP." in the context of "Part 2, Chapter 9, Reproduction (for Economists), p. 114 (Case as per text.)" to mean that wisdom is timeless.
Source: Wikiquote: "Jim Stanford" (Sourced, Economics For Everyone (2008))
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
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About Jim Stanford
Jim Stanford is the resident economist for the Canadian Auto Workers and founder of the Progressive Economics Forum. He holds a Master’s degree in Economics from Cambridge University, and a Ph.D. from the New School for Social Research.
About Jim Stanford
Jim Stanford is the resident economist for the Canadian Auto Workers and founder of the Progressive Economics Forum. He holds a Master’s degree in Economics from Cambridge University, and a Ph.D. from the New School for Social Research.
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