The 1993 Revised System of National Accounts: Where Do We Go from Here?

The 1993 System of National Accounts is a remarkable document but the system also has some major imbalances and omissions. The present paper spells out four aspects of the System of National Accounts that require further development: accounting for the costs of economic change; delineation of information as an economic commodity; overhaul of the methodology underlying input-output accounts; and consequences of the system's implicit use of compacted accounting. These developments can be incorporated in a supplementary document in the near future. We need not wait twenty-five years. Copyright 1995 by The International Association for Research in Income and Wealth.