How Should We Measure China’s Economic Growth?

Doubting China’s growth rate, economists use alternative figures or even satellite images rather than traditional GDP components.

A Surprising Way to Cut Healthcare Costs

Assume for a moment you are in a doctor’s office observing an examination. A 70-year old male patient enters pulling an oxygen tank and wearing a baseball cap. Because the doctor has been seeing him for two years, he knows…

The Funny Side of Misleading Statistics

At the BAHFest, evolutionary researchers present bogus theories that are funny but also display how we can be convinced by misleading statistics.

Dude, Where’s My Tax Revenue?

Unpredictable human behavior for Colorado marijuana sales is but one example of why economic forecasting for tax revenue and GDP is inaccurate.

Should GDP Include Illegal Drug Deals?

In 1987, Italy decided to include its “off-the-books” economy in its GDP. The result was an 18% boost. Now, further complying with EU accounting regulations, Italy will add illegal drugs, prostitution and black market alcohol and prostitution. Announcing a similar policy,…