Private Product Remaining or PPR is a means of national income accounting similar to the more commonly encountered GNP. Since government is financed through taxation and any resulting output is not (usually) sold on the market, what value is ascribed to it is disputed (see calculation problem), and it is counted in GNP. Murray Rothbard developed the GPP (Gross Private Product) and PPR measures. GPP is GNP minus income originating in government and government enterprises. PPR is GPP minus the higher of government expenditures and tax revenues plus interest received.
For example, in an economy in which the private expenditures total $1,000 and government expenditures total $200, the GNP would be $1,200, GPP would be $1,000, and PPR would be $800.
Famous quotes containing the words private, product and/or remaining:
“A moody child and wildly wise
Pursued the game with joyful eyes,
Which chose, like meteors, their way,
And rived the dark with private ray.”
—Ralph Waldo Emerson (1803–1882)
“Much of our American progress has been the product of the individual who had an idea; pursued it; fashioned it; tenaciously clung to it against all odds; and then produced it, sold it, and profited from it.”
—Hubert H. Humphrey (1911–1978)
“In every ascetic morality man prays to one part of himself as God, and to do so he finds it necessary to demonize the remaining part.”
—Friedrich Nietzsche (1844–1900)