Chapter 9 GDP

Each chapter I am more impressed on how something as seemingly  complicated can be explained in terms I can understand. Wheelan takes on the great topic of GDP. The first thing that I found interesting that I am going to directly quote is on page 195. Wheelan gives a new way of thinking about how much wealth we need to live, more specifically how we can measure it. "The real cost of living isn't measured in dollars and cents but in hours and minutes we must work to live".
Wheelan in the previous pages references chapter 5, a chapter all about efficiency brought on by new technological advances. The technology increases are GDP and decreases the time we must work to get a specific job done( AKA productivity). He mentions on page 194 that america is now 5 times wealthier than in 1940, which is incredible. We have to spend less time to acquire goods and services, even though the cost has gone up since that time.