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am_Unition  ·  2266 days ago  ·  link  ·    ·  parent  ·  post: The Next Financial Calamity Is Coming. Here’s What to Watch.

I like this one too: We’re Measuring the Economy All Wrong

    Almost a century later, it is time for a new set of statistics. It’s time for measures that do a better job of capturing the realities of modern American life.

    As a technical matter, the current batch of official numbers are perfectly accurate. They also describe some real and important aspects of the American economy. The trouble is that a handful of statistics dominate the public conversation about the economy despite the fact that they provide a misleading portrait of people’s lives. Even worse, the statistics have become more misleading over time.