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June 7, 2013
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EU Accepts Prostitution and Drugs as component of GDP

Joseph Warren, Editor

Coming under the heading of No Kidding, the EU has now elected to include both activities within the calculation of Gross Domestic Product for the EU as a whole. (I will make every effort to not pun this report, including with respect to the last word in the previous sentence.)

I suppose in some way this is logically consistent. Since we, like the EU, are predominantly a society of consumers of those things that carry us away from reality for periodic short trips to plains of existence where the tribulations of daily life are forgotten, perhaps we ought to consider taking this step, too.

I am not an opponent of legalized prostitution. In fact, I think it has a place in society and, while data from various resources reflects contradictory views, in my gut I believe that a society which permits prostitution probably experiences less sexual tensions and related violence.

Are Drugs and Prostitution big business?

One needn’t be John Maynard Keynes to know that they are two of the biggest industries in America today, and growing steadily by the hour. In Dallas, Texas, haven to all things Puritanical and Christian, the Sex Trade is estimated to be valued at about $100 million per year. Generalizing this figure, combined with other national estimates brings the industry’s annual revenue to somewhere in excess of $30 Billion - probably much more.

Estimates on Illicit Drug annual sales exceeds Prostitution by some, at the moment, undefinable amount. Total then for both, annually, could easily exceed $100 billion in our country alone erecting a more sustainable GDP. (Consult your physician if your GDP lasts for more than 72 hours...)

But the EU takes it a step further and includes related expenses when calculating sales associated with Prostitution by embracing expenses for make-up, hair, clothing, condoms, and the like.

Economic Viagra

In America today our government manipulates or contorts everything we’re fed through the popular media, most recently and to our profound detriment, Unemployment.  Read, More Partisan BS as we approach the November elections, column left to better understand how they help you feel better thinking that Unemployment has dropped to a Seven Year Low, when in fact it remains “sky high” (by using nothing more than Third Grade math).

This past week more bad news came to the forefront as we learned that our GDP had dropped during the First Quarter of 2014, signaling heightened awareness on the part of our Investment sector. Two such quarters in a row and we are officially back in Recession - not that we had ever climbed out of the abyss that formed in 2007.

So, are Prostitution and Drugs the answer? Might their inclusion in our GDP bring about a greater, long-lasting stiffness to the economy? (Or at the very least will their use bring about greater happiness?)

One thing is for certain: Bringing them into the popular, sanctioned economic fold will stimulate new investment opportunities on Wall Street, not to mention providing an expanded definition for “Over The Counter” trading.

As well, and maybe of tantamount importance, should, say, McDonald restaurants elect to include Prostitution on the drive-thru menus it would do much to mitigate the recent spate of issues they’ve faced regarding Minimum Wage, and further define their trademark, Golden Arches:

“Welcome to McDonald’s. Would you like a hot pie with that, or am I being redundant?”

No Minimum Wage Dispute here...