Will McGrew directs us to David Leonhardt's rant against the mainstream media's addiction to gauging the overall health of the economy by statistical measures that are relevant only to the rich: Will McGrew: Weekend Reading: “Earnings Inequality” Edition: "Criticizing the relevance of the economic data the government makes available, David Leonhardt echoes an argument...
...frequently made by Equitable Growth Chief Economist Heather Boushey and computational social scientist Austin Clemens. In particular, Leonhardt notes that while stock values and GDP growth have increased in the past few years, the income and net worth of most families have remained stagnant. Similarly, while unemployment rates are down, a larger number of workers has stopped looking for jobs, thus exiting the labor force...
#shouldread
