Because the accounts relied on market transactions, nonmonetary transactions—including utility exchanges outside markets—became empirically unobservable to economists.
Evidence (2)
What counts as productive? Redefining ‘producers’ in economic discourse, 1890–1960 — National accounts institutionalize commodified utility and convert productive labour into paid labour
making any nonmonetary economic transactions, including the exchange of utilities outside of market transactions, impossible to observe
https://doi.org/10.1080/03085147.2024.2404355#unit-6-p4
What counts as productive? Redefining ‘producers’ in economic discourse, 1890–1960 — National accounts institutionalize commodified utility and convert productive labour into paid labour
making any nonmonetary economic transactions, including the exchange of utilities outside of market transactions, impossible to observe
https://doi.org/10.1080/03085147.2024.2404355#unit-6-p4
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