Book 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.

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GDP'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

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