Yes, that is why we keep Jim Devine here, even though we cannot afford his salary.
Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [email protected] michaelperelman.wordpress.com -----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of Louis Proyect Sent: Saturday, September 24, 2011 5:08 PM To: Progressive Economics Subject: Re: [Pen-l] Did World War Two end the Great Depression? On 9/24/11 7:55 PM, Jim Devine wrote: > Her data trick is interesting: if you look at the 1920s and before, > the US data are really poor compared to those of the era after World > War II. Since the data problems were so bad, it's a mistake to > compare, say, the real GDP for the US in 1927 to that of 1957, since > two completely different things are being measured. Most economists > don't want to talk about this. Romer's trick was to say, okay, let's > calculate the 1957 GDP _as if_ all we had was the kind of data of the > type that was available in 1927. Then, since you're using the same > kind of base data to calculate the two GDPs, they are much more > comparable (though of course, data problem remain). Ah, that's why I have remained subbed to PEN-L for nearly 20 years. Just the sort of thing that you can't get anywhere else. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
