On Friday morning, Donald Trump appeared on Fox & Friends to talk about running mates and bad-mouth the economy, which, he said, was “terrible,” proof that the Democrats don’t know what they are doing. “The real unemployment rate is probably twenty per cent. Jobs are leaving.
Read moreThe Leading Indicators: Zachary Karabell
For too long, says author Zachary Karabell, we've adhered to outdated statistics for measuring economic health. Why follow a '50s road map in the 21st century when newer, more useful guides are available?
Read moreBook TV After Words: Zachary Karabell, "The Leading Indicators."
There are a set of five economic indicators that have been guiding U.S. economic policy for decades, but most are not understood by the average citizen and, Mr. Karabell argues, are not as relevant today as when they were created. Gross national product, balance of trade, unemployment, inflation and consumer confidence should no longer be the primary basis for business plans or monetary policy, he says, as the technology revolution has made considerably more data available. He talks with Wall Street Journal reporter Kimberly Strassel.
Read moreThe Leading Indicators
n today's uncertain economy, both the public and the world's leaders rely heavily on certain indicators to tell us how we are doing. Gross national product, balance of trade, unemployment figures, inflation, and the consumer price index determine whether we feel optimistic or pessimistic about our future and dictate whether businesses hire or hunker down, governments spend trillions or try to reduce debt, and individuals buy a car, get a mortgage, or look for a job. Yet few of us know where these numbers come from, what they mean, or why they rule our world.
Read moreThe Leading Indicators: A Short History of the Numbers That Rule Our World
Top economist Zachary Karabell discusses the statistics, measurements, and terms such as GDP, unemployment rate, and trade deficit; and how they came to dictate our public policies and personal decisions.
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