Real Real GDP, Bryan Caplan | EconLog | Library of Economics and Liberty

http://econlog.econlib.org/archives/2012/01/real_real_gdp.html

 


Great Video About Economic Liberty & Quality of Life

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Great Video About Economic Liberty & Quality of Life


New Happiness Research Results

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New Happiness Research Results


Legatum Prosperity Index

http://www.stumbleupon.com/su/1AAGCC/www.prosperity.com//r:f


Classification, Detection and Consequences of Data Error: Evidence from the Human Development Index — by Hendrik Wolff, Howard Chong, Maximilian Auffhammer

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Classification, Detection and Consequences of Data Error: Evidence from the Human Development Index — by Hendrik Wolff, Howard Chong, Maximilian Auffhammer

We measure and examine data error in health, education and income statistics used to construct the Human Development Index. We identify three sources of data error which are due to (i) data updating, (ii) formula revisions and (iii) thresholds to classify a country’s development status. We propose a simple statistical framework to calculate country specific measures of data uncertainty and investigate how data error biases rank assignments. We find that up to 34% of countries are misclassified and, by replicating prior studies, we show that key estimated parameters vary by up to 100% due to data error.


The Newspeak of Paul Krugman

http://www.thefreemanonline.org/headline/the-newspeak-of-paul-krugman/#


Pitfalls of GDP

http://www.econlib.org/library/Columns/y2010/HendersonGDP.html#


Behold: The Recovery Is At Hand.

Behold: The Recovery Is At Hand.

 


Munger on GDP

http://mungowitzend.blogspot.com/2009/10/omg-its-gdp.html

“Seriously, all we did was blow up G like a giant helium flying saucer, with no balloon boy in it. The 3.5% “growth” is fake. It’s all G. Ask yourself: why is this a “jobless recovery?” Why aren’t consumers going back to the stores, if this is a real recovery? Answer: it is NOT a real recovery.”


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