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But this argument not only depends on the abuse of statistics comparing corporate turnover with GDP (which measures value added, not sales).
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How do we measure value added in the amorphous services sector?
The CLA was created to measure value added before and after going to college.
"It does not, in my opinion, measure value added very well for our kind of institution," said Neal E. Armstrong, a vice provost of the University of Texas at Austin.
But researchers are improving systems to measure "value added" from beginning to end of the year, and, with three years of data, it's usually possible to tell which teachers are failing.
This is applied to a bank's earnings and to the compensation it pays employees, on the theory that the sum of these two is another way of measuring value added.
Yet, despite a list of challenges that have defeated many other inner-city comprehensives, St George's has gone from the bottom to the top of most league tables when it comes to measuring "value added".
Good teachers, they find, are worth their weight in gold.School systems often try to assess the quality of their teachers by measuring "value added": the effect a given teacher has on pupils' test scores.
But GDP measures value-added while revenue measures gross value.
It also establishes a framework for measuring gross external damage, which should be subtracted from measures of value added to arrive at a measure of net value added.
Along multinational supply chains, they note, a single component may be exported several times, adding to tallies of gross trade but not to measures of value added.
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CEO of Professional Science Editing for Scientists @ prosciediting.com