The new World Bank Human Capital Index was created to encourage the leaders of 157 countries to improve their healthcare and education.
Looking at William Nordhaus’s study of lighting history, we can see how increasingly cheaper illumination boosted our living standards.
You can assume that individuals are affluent if their consumer spending includes iPads, Verizon Wireless, and Ziploc bags.
With health care becoming a job engine, we could have more physicians, nurses, and assistants twith job-related names like Payne, Butcher, and Burns.
Relevant today, the timeless ideas in Alexander Hamilton’s development plan are about sovereign debt, banking, and economic growth.
Looking at the North Korean economy, economists have to become detectives because the government refuses to share basic statistics.
With debt and delinquencies multiplying, a student loan crisis could be developing but on the other hand, not necessarily.
Economic forecasting can frequently be inaccurate because of changing numbers and human bias or, as Yogi Berra reputedly said, “It’s tough to make predictions, especially about the future.”
The economic way to demonstrate sadness is to look at misery indexes that use macro data to measure changes in our emotions.