Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: LLCF who wrote (10962)	11/4/2001 6:08:43 AM
From: Moominoid	Read Replies (1) of 74559

1981 is a bit silly no? It seems we are agreed that some kind of adjustment is theoretically correct. Probably nearly as useful, and CERTAINLY closer to the same than the government throws into their statistics pot. Truth is, they don't have a clue. I'd agree that the emthod the BLS/Commerce are using could be improved on. Can you give a good reason why this should be done? The reason they focused on computers etc. is because change is so rapid there that it was having a significant impact on the stats. The goverment doesn't try and measure other intangibles [noise in society, quality of life, etc], why throw these intangibles into the pot? By this reasoning you wouldn't measure product quality for it's own sake. GNP/GDP just measures market goods/income etc. There are plenty of unofficial efforts to incldue those other things too.

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