Mismeasuring the impact of foreign trade

George Mason University economist and author of Marginal Revolution, Tyler Cowen discusses the limitations of using common macroeconomic tools like GDP and GNP to evaluate the impact of foreign investment in one of his more recent blog posts.  

If the main purpose of trade is to increase the number of goods and services available to an individual, consumption based measurements should be a part of the analysis.  I am not sure how trade that enables a consumer to purchase more goods for the same level of spending can be bad for an economy.

Lagniappe: Tyler that discusses how the GOP tax plan and Trump's objective to decrease US trade deficit are seemingly at odds in a recent Bloomberg article