Lies, Damed Lies, and GDP

Back in the day, I was being only partly facetious when I suggested that the government stop compiling foreign trade statistics. Once you know the numbers, some countries will have trade surpluses while others have deficits. Left alone and unobserved, those imbalances would resolve themselves one way or another, and their automatic resolutions would almost […]



via Bob McTeer's Economic Policy Blog http://ift.tt/PEAOxO