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How we track our economy influences everything from government spending and taxes to home lending and business investment. The Conversation series The Way We Measure takes a close look at economic indicators to better understand what's going on. Ever since 1944, Gross Domestic Product (GDP) has been a primary measure of economic growth. It's in the news regularly and, even though few can define what it means, there is general acceptance that when GDP is growing, things are good. There are problems with this simplistic formulation.

Long read from the New Yorker on employment statistics. Good economic statistics benefit the left and the right, government and business. Without reliable data, businesses can't take risks on investments. Boeing, for example, decides how many 787 Dreamliners to build and therefore how many people to employ based on its Current Market Outlook forecast, which is rooted in government data and projects aircraft demand for the next twenty years.

If you look at marathon times, you see most people run somewhere in the middle (4 hoursish), with a few under 3 hours (?!) and over 6 hours (very sensible). If you plot this data in a histogram, you can also see that there are spikes...people run just under 3, 3.5, 4, and 4.5 hours - you can see that people have a goal (of a nice round number) and the times are distributed accordingly.

"Between 2000 and 2015, nearly every African country improved childhood nutrition, especially in reducing stunted growth caused by malnutrition" .... " national averages do not tell the full story. In Kenya, for example, rates of wasting in children under 5 were below 6% on average nationwide in 2015, yet in certain regions plagued by several years of poor rains, crop failure and disease outbreaks, estimated levels of wasting reach as high as 28%."... "Such fine-grained insight brings tremendous responsibility to act. It shows governments, international agencies and donors exactly where to direct resources and support."..."This shows how crucial it is to invest in data. Data gaps undermine our ability to target resources, develop policies and track accountability. Without good data, we're flying blind. If you can't see it, you can't solve it."

Read the comments alongside the article here - interesting speculation and use of evidence. initiatives will not turn the affordability problem around while tax settings continue to support existing homeowners and investors at the expense of first time buyers and renters. Moreover, apart from a brief interruption 2008-2012, the Commonwealth has been steadily winding back its explicit housing role for more than 20 years. The post of housing minister was deleted in 2013, and just last month Government senators dismissed calls for renewed Commonwealth housing policy leadership recommended by the Senate's extensive (2013-2015) Affordable Housing Inquiry. This complacency cannot go unchallenged.