More like we know that people can always find an obscure enough number to support what they want to do. There's a lot of value in having simple metrics that are hard to game.
More like we know that people can always find an obscure enough number to support what they want to do. There's a lot of value in having simple metrics that are hard to game.
Inflation is easily gamed by manipulating the basket of goods used to determine it.
Unemployment can be manipulated by only including people who „actively search” for the job, and tweaking the definition of „actively”, counting part timers.
GDP is gamed by circular money movements.
> Inflation is easily gamed by manipulating the basket of goods used to determine it.
Just turn the tariffs on and off again.
Well sure, but the more complex your measurements are the worse you make it. Rather than looking for more nuance, we should look for stricter approaches to avoid those issues.
A lot of our economy relies on "number goes up" to tell people to invest
The metric doesn't matter as long as it goes up most of the time.