Published 2 years ago

Real World Economics: Price indexing seems more art than science

Summary by Ground News

Ed Lotterman: Measuring changes in price levels in a complex economy is a difficult task. He says it's more complicated than people realize, but the information is vital. Lotter: Price indexes are basic metrics for monitoring an economy. The information enables better government policy, he says.

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Real World Economics: Price indexing seems more art than science

Ed LottermanMeasuring changes in price levels in a complex economy is a difficult task, but somebody has to do it.Price indexes are basic metrics for monitoring an economy, as are employment and other labor measures plus readings of value of output. The information enables better government policy and informs household — and political — decisions.An old adage says that information is valuable, but isn’t always cheap.Measuring how much general pr…

2 years ago·St Paul, United States

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