Thursday, December 16, 2010

Surprise!

Government trade statistics, upon which tremendous political griping and mischief rests, are totally useless! Who woulda thunk it? Well, Don Boudreaux has been thunking this for a long time...

1 Comments:

Blogger Richard said...

Mark Perry had a similar post up yesterday re: the Apple i-phone, and as I recall the same subject was addressed in detail at Say Anything some 6 months ago or so.

What's interesting is that the gross inaccuracy operates in both directions: our government vastly overstates the value of foreign imports, while understating by a like magnitude the value of US exports abroad.

And like the CBO/JCT flawed static analysis regimen, no one ever bothers to do anything about the inaccuracy. The greatest force in the universe is without question inertia.

2:12 PM  

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