Whenever you see someone use the word “neoliberalism” you are probably dealing with someone who spends most of his or her time in a left-wing echochamber where people believe they are being oppressed by “free markets” and that things will be set right only when the kind, calming hand of government is able to tame the vile “free for all” that is people enjoying personal freedom.

Europe got some good news in early June as the EU changed its statistical guidelines on how to compute GDP. Among other changes, expenditures on prostitution and illicit drugs (hookers and blow, colloquially) will now be included. Of course, some countries have been including these items for years. Back in 2006, the Greek government was able to increase its reported GDP by 25% overnight by including these items! The reason the Greek government made the change back then was to have more flattering debt and deficit to GDP figures than otherwise. We now know how that story ended.