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...
posted by Donny Baseball at 9:47 AM
1 Comments:
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.
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