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Tuesday, October 09, 2012

How Much Trust Should We have in Economic Data?

We are, as they say, live:

How Much Trust Should We have in Economic Data?: Perhaps it’s not surprising that a political party unable to come to grips with the scientific evidence on global warming would extend its claim that the evidence is politically manipulated to other inconvenient truths. But the attack on the Bureau of Labor Statistics by some Republicans last Friday over its report of an improvement in the unemployment rate was still a bit of a shock.
The charge that employees at the BLS manipulated the employment numbers to favor Obama is nonsense as anyone familiar with the calculation of these numbers can attest, but it does bring up a good question. What factors should be considered when assessing the reliability of economic data? ...[continue reading]...

    Posted by on Tuesday, October 9, 2012 at 12:33 AM in Economics, Fiscal Times | Permalink  Comments (32)

          


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