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Life After Growth: How the global economy really works - and why 200 years of growth are over by Tim Morgan

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Chapter 10: The Madness of Statistics

THIS BOOK DESCRIBES AN impending economic crisis. Although, and as we have already seen, the post-2008 slump was a consequence of the biggest financial bubble in history, this is, in many ways, the least of the problems faced by the global economy collectively, and by the Western economies in particular.

In this situation, it seems self-evident that policymakers, business leaders and the general public alike have an imperative need for reliably accurate data if they are to stand any chance of finding least-bad solutions. But this reliable data is precisely what they do not have. Both economic and fiscal reporting have been subjected to incremental obfuscation to the point where policymakers, investors ...

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