Wed, 23 Apr 2003 15:55:34 GMT

Job-Creation Arithmetic. Paul Krugman writes, The average American worker earns only about $40,000 per year; why does the administration, even on its… [EconLog: Library of Economics and Liberty]

Statistics are why economics is called the dismal science. You can find some sort of number to justify totally opposite actions. ALthough the inaccuracy detailed here is pretty obvious, the difficulty for most of us is that the numbers usually are not so. Discussing averages when medians should be used. Saying things like “The top 1% will receive 90% of the money”, etc. just serve to obfuscate the issue. I feel like I am listening to a phone ad where they make everything so confusing that you just give up and do not try to change anything. If there was ever a place for Emergent Democracy, dealing with the spin of economics is it. [A Man with a Ph.D. - Richard Gayle's Weblog]

interesting post about how this set of tax cuts could work… rich get richer, poor well, due to inflation and everythign else get poorer.