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Edward  Boyle

If the numbers are bad they should adjust the measuring method. Unfortunately they cannot do this in real time as that would look too much like cheating. Say you are playing chess and about to lose and you say "but now my horse can move like a queen" that would be unfair. Only if you said at the beginning of a new game that "horses will be allowed to move like queens" would it be acceptable. Adjustments to statistical measurments have been made often. What Geithner and others like him do is to trumptet only those aspects of the stats that appeal to them. This tactic may be referred to as "The glass is half full" approach and is quite effective when the press is a willing prostitute of the economic system and the population is drugged by distractions so nobody notices what is really going on.

I got curious about this and got a couple links from the end of wikipedia's entry on GDP:

A whole little course on how the govt. compiles some main stats:

A lecture by Roubini:

Jay Hanson's take on the subject:

An academic download PDF "Abolish GDP":

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