The inventor of GDP cautioned against including in its calculation expenditure for the military, advertising, and the financial sector,33 but his advice fell on deaf ears. After World War II, Kuznets grew increasingly concerned about the monster he had created. “Distinctions must be kept in mind between quantity and quality of growth,” he wrote in 1962, “between costs and returns, and between the short and long run. Goals for more growth should specify more growth of what and for what.”
