When economists focus on measuring happiness, they look at money and time and health and GDP for conclusions that might not be quantifiable.
Whether looking at childcare, boiling water, or changing a light bulb, the activities that compose household production are tough to value.
Because of research replication issues and questionable data, many academic papers need more rigor from their authors and skepticism from their readers.
Precise numbers can become misleading statistics when politicians, journalists and scholars use them for jobs projections and GDP totals.
Economists can use nighttime lights from NASA’s satellite images of the earth to decide if China’s economic growth statistics are accurate.
Based on GDP statistics, Ireland’s GDP growth rate of 26.3% is misleading because it is boosted by corporate tax inversions.
Using statistics to identify gender discrimination accurately, we should look at the components of summary results to avoid Simpson’s paradox.
For African nations like Rwanda, inaccurate and misleading statistics about poverty and growth can be supplemented with satellite and cell phone data.
Our everyday economics includes externalities, supply and demand, price maker, monopolistic competition, oligopoly, statistics, money supply & innovation.