Tuesday, April 25, 2006

Here's an interesting story from the Tete's blog

Trust and Wealth Management Marketing: If things are so bad, then why are they so good?

4 comments:

Trashcan said...

i read only the blog note, and not the entire article, but there are other economic indicators other than unemployment and gdp. It is possible that while the gdp of the country goes up very quickly, the people in that country are not necassarily bennefitting from that growth. Durring the industrial revolution, gdp went up very quickly, and unemployment was not high by standards of the time (i think) but that doesn't mean people in the mills had it good, just the mill owners.

In an extreme case, in the case of a slave society, unemployment could be very low, and gdp very high, but that doesn't mean the economic status of the slaves is improving at all.

Aras said...

What are you a bloody Luddite??

Trashcan said...

I'm not a bloody anything. I personally have no problem with the economy, i'm just pointing out that it is a fallacy to look at something as complicated as the economic well-being of an entire country, or anything else equally complicated, and judge it by a couple of statistical facts.

I would say the same thing about a football team. You can't just look at a football teams offensive and defensive statistics and then predict which team will win the superbowl. You can't even look at their win lose record. they are tools, and can be helpful, but to draw conclusions simply from them is incorrect.

Aras said...

yeah, so? i know that!

This is my counter: