Even Dean Baker... I give a lot of credence to Dean's criticisms of the misleading interpretations of quarterly GDP reports but he glosses over the fact that even genuinely "good" numbers don't tell us much about REAL income. That's not just me saying that. It was Paul Samuelson's explanation back in 1950.
The "horse race" narrative of economic growth is to political economy what the horse race narrative of elections is to democracy. It would enhance Dean's critique of the misinterpretations if he would point out the bogus nature of the whole narrative framework. On Tue, Jan 13, 2015 at 9:12 AM, Louis Proyect <[email protected]> wrote: > By Dean Baker. > > > http://america.aljazeera.com/opinions/2015/1/us-economy-growthjobswagesobama.html > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Cheers, Tom Walker (Sandwichman)
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