The statistics that drive our big-picture economic thinking — GDP, unemployment figures, and inflation rates, among others — have come to be regarded as nearly sacrosanct. Investors, policymakers, and everyday consumers rely on them to make decisions trivial and earthshaking alike, often measured in trillions of dollars. Zachary Karabell, in his book The Leading Indicators: A Short History of the Numbers That Rule Our World, traces the history of these numbers and questions how useful they actually are.
Read moreFMN: Leading Indicators - A Brief History of Numbers That Rule Our World
Zachary Karabell on Leading Indicators of Success Every day we are bombarded with numbers. Some tell us how we are doing. Others indicate whether the economy is growing or shrinking and whether the future looks bright or dim. Figures showing gross national product, balance of trade, unemployment, inflation and consumer confidence guide our actions, yet few of us know what they mean or why they are so important.
Read moreStorm on the Horizon? The Changing Climate of Financial Markets
In the closing video from our 2014 Miami event, we highlight the testing conditions in financial markets. Robert Westcott, former advisor to President Clinton, examines ‘climate change’, whilst economist Zachary Karabell argues we should be looking at different indicators all together.
Read moreThe Leading Indicators: Zachary Karabell
For too long, says author Zachary Karabell, we've adhered to outdated statistics for measuring economic health. Why follow a '50s road map in the 21st century when newer, more useful guides are available?
Read moreBook TV After Words: Zachary Karabell, "The Leading Indicators."
There are a set of five economic indicators that have been guiding U.S. economic policy for decades, but most are not understood by the average citizen and, Mr. Karabell argues, are not as relevant today as when they were created. Gross national product, balance of trade, unemployment, inflation and consumer confidence should no longer be the primary basis for business plans or monetary policy, he says, as the technology revolution has made considerably more data available. He talks with Wall Street Journal reporter Kimberly Strassel.
Read moreGDP's Early Relevance
Economist Zachary Karabell explains the historical progression of the leading indicators in use today. Starting with World War II and continuing through the '50s and '60s, Karabell describes how the numbers came to be policymaking tools. This Carnegie Council event took place on March 11, 2014. For complete aud
Read moreOld Statistics, New Take
Economist Zachary Karabell suggests a different take on the available data and statistics, making it more relevant to the individual. National averages that are often relied heavily upon, he says, are rarely useful in any given individual's life.
Read moreZachary Karabell: What Are You Reading?
Learn more about Leading Indicators at http://books.simonandschuster.com/The... Zachary Karabell on reading new books from novelist Meg Wolitzer and journalist Steve Coll.
Read moreHow Counting the Unemployed Started as a Progressive Reform
In an excerpt from his book, reprinted here by permission of Simon & Schuster, Karabell traces how employment data collection originated as a progressive antidote to economic inequality. But even the reformists who developed those statistics, Karabell notes, were wary of the “mania for statistics.”
Read moreDon’t Trust the Economic Numbers That Govern Our World
Every week we’re bombarded by numbers about GDP or consumer confidence or some other leading indicator about our economic health and prosperity. Enough, says Zachary Karabell, these numbers don’t accurately reflect our world.
Read moreThe Leading Indicators
n today's uncertain economy, both the public and the world's leaders rely heavily on certain indicators to tell us how we are doing. Gross national product, balance of trade, unemployment figures, inflation, and the consumer price index determine whether we feel optimistic or pessimistic about our future and dictate whether businesses hire or hunker down, governments spend trillions or try to reduce debt, and individuals buy a car, get a mortgage, or look for a job. Yet few of us know where these numbers come from, what they mean, or why they rule our world.
Read more25 for 25: Leave the Big Numbers to Janet Yellen
There's a small problem with numbers we use to measure the economy. You know, those numbers you hear on Marketplace every day. "One simple number is never going to capture simple reality," says Zachary Karabell, historian and economist and author of "The Leading Indicators: A short history of the numbers that rule our world."
Read more(Mis)leading Indicators
Economic numbers have come to define our world. Economists and analysts loosely refer these as “leading indicators” and subscribe to the belief that these figures accurately reflect reality and provide unique insights into the health of an economy. But this has become less reliable than ever before.
Read moreThe Leading Indicators: A Short History of the Numbers That Rule Our World
Top economist Zachary Karabell discusses the statistics, measurements, and terms such as GDP, unemployment rate, and trade deficit; and how they came to dictate our public policies and personal decisions.
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