Ebook Download , by Zachary Karabell
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, by Zachary Karabell
Ebook Download , by Zachary Karabell
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Product details
File Size: 4925 KB
Print Length: 305 pages
Publisher: Simon & Schuster; Reprint edition (February 11, 2014)
Publication Date: February 11, 2014
Sold by: Amazon Digital Services LLC
Language: English
ASIN: B00DPM7ZZS
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The book's first 4-5 chapters are interesting economic history but it trails off into a more philosophical discussion of the best uses for the indicators.It also gets increasingly repetitive, as the author repeats he same examples to reinforce his point. For instance, unemployment only measures those looking for work and excludes those who aren't looking for work. Got it, so no need to repeat it at least three times.A good read but could have been better.
Very good book for anyone interested in what the economic indicators mean. I would highly recommend it to economics students, journalists, pundits, and politicians. If one becomes familiar with these statistics - GDP, unemployment rate, jobs created - it would not be possible candidates to make statements like Donald Trump's recent proclamation that the "true unemployment rate is around 25 percent". With some knowledge of what the statistics mean and how they are prepared, an informed citizenry could easily spot the demagoguery that pervades our political discourse. Buy this one!
Overall: I recommend this book to people who have an intermediate knowledge of economics or work in finance.This is one of the more thought-provoking books I've read in a while. Karabell does a good job explaining where and why important economic indicators (e.g. GDP and inflation) arose. How the idea of "the economy" is relatively new. He then goes on to explain whether they measure what we think they (ought) to measure. Each of these important indicators has its limits in describing our well-being, but at the same time that's not why they were created.I could have done without chapters 10 and the conclusion. But since it's not a terribly long book anyway, it wasn't too much of a waste of time.Overall, a recommend for econ nerds.
This is a bright, breezy and readable little volume that clearly shows how the sphere of human action that we now call "the economy" is largely a figment of the statistical imagination. It's reported on ad nauseam as though it is a real "thing", but it isn't; and fixation on its numerical measures has caused a deterioration in our thinking and in the quality of the lives we lead. These measures were devised as "indicators" to help us assess whether our policies were working or not; instead they have become a media fetish and a political stick with which to beat us into line. An excellent little volume; highly recommended!
The information in the book was very detailed and interesting, giving me a much improved understanding of "Leading Indicators" (e.g. unemployment rates, etc).. It was a little above my "pay grade" but well worth the effort.Thomas Roe Los Angeles.
An excellent summary of the collection of economic data and the subsequent application of statistics to the data. The author repeats his theme but it is worth repeating; the "leading indicators" that become the headline news do not and were never intended to fully describe a country, its citizens or its true (whatever that may be) economic well being.
The book lives up to its title: "The Leading Indicators: A Short History of the Numbers That Rule Our World". It covers the development and shortcomings of "headline" statistics such as gross domestic product, unemployment, and international trade. Readers will learn some eye-opening things, unless they already know the basics of what measures underlie these statistics and why many such statistics suffer from potentially misleading imperfections. For example, headline unemployment (U-3) doesn't include people who have given up looking for work; so if all workers lose their jobs and decide not to look for new jobs, the headline unemployment rate would fall to zero. The book does get a bit repetitive as it goes along, repeating its basic assertions over and over.Bottom line: If everyone read this book, we'd have a much more informed citizenry.
Stumbled on to this very excellent book about how these numbers have been established and how they have exceeded the importance we all have put on them. I recemmend this book to every political expert and to all citizens who await the next expectation awaited when the numbers are annouced. Do they really represent what we think they do?
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