Some Methodological Problems of Statistical Comparison of National Incomes and Price Levels

Among the problems involved in comparing economic indices of different countries, the problem of working out a scientific methodology for international comparison of national incomes and price levels has become especially pressing. Since the index of national income is a single overall index of society's labor outlays and it is not affected by any double counting, it reflects correctly the country's economic growth rates, the structure of the economy, and the living standards of the population. Consequently, it is the most acceptable index for characterizing the course of economic competition between the USSR and the U.S.