BiblioVault - Books about Economic indicators

Business Cycles, Indicators, and Forecasting

Edited by James H. Stock and Mark W. Watson

University of Chicago Press, 1993

The inability of forecasters to predict accurately the 1990-1991 recession emphasizes the need for better ways for charting the course of the economy. In this volume, leading economists examine forecasting techniques developed over the past ten years, compare their performance to traditional econometric models, and discuss new methods for forecasting and time series analysis.

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The Mismeasure of Progress

Economic Growth and Its Critics

Stephen J. Macekura

University of Chicago Press, 2020

Few ideas in the past century have had wider financial, political, and governmental impact than that of economic growth. The common belief that endless economic growth, as measured by Gross Domestic Product, is not only possible but actually essential for the flourishing of civilization remains a powerful policy goal and aspiration for many. In The Mismeasure of Progress, Stephen J. Macekura exposes a historical road not taken, illuminating the stories of the activists, intellectuals, and other leaders who long argued that GDP growth was not all it was cracked up to be.

Beginning with the rise of the growth paradigm in the 1940s and 1950s and continuing through the present day, The Mismeasure of Progress is the first book on the myriad thinkers who argued against growth and the conventional way progress had been measured and defined. For growth critics, questioning the meaning and measurement of growth was a necessary first step to creating a more just, equal, and sustainable world. These critics argued that focusing on growth alone would not resolve social, political, and environmental problems, and they put forth alternate methods for defining and measuring human progress.

In today’s global political scene—marked by vast inequalities of power and wealth and made even more fraught by a global climate emergency—the ideas presented by these earlier critics of growth resonate more loudly than ever. Economic growth appealed to many political leaders because it allowed them to avoid addressing political trade-offs and class conflict. It sustained the fiction that humans are somehow separate from nonhuman “nature,” ignoring the intimate and dense connections between the two. In order to create a truly just and equitable society, Macekura argues, we need a clear understanding of our collective needs beyond growth and more holistic definitions of progress that transcend economic metrics like GDP.

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The New American Reality

Who We Are, How We Got Here, Where We Are Going

Reynolds Farley

Russell Sage Foundation, 1996

"A fascinating and authoritative account of American social history since 1960 as viewed through the prism of government statistics....[Farley] uses publicly available data, straight forward methods, and modest...language, to provide more information and insight about recent social trends than any other volume in print." —American Journal of Sociology "A brilliant piece of work. Farley is absolutely masterful at taking tens of thousands of national survey statistics and weaving from them a fascinating and beautifully illustrated tapestry of who we are." —Barry Bluestone, Frank L. Boyden Professor of Political Economy, University of Massachusetts, Boston The New American Reality presents a compelling portrait of an America strikingly different from what it was just forty years ago.Gone is the idealized vision of a two-parent, father-supported Ozzie and Harriet society. In its place is an America of varied races andethnic backgrounds, where families take on many forms and mothers frequently work outside the home. Drawing on a definitive analysis of the past four U.S. censuses, author Reynolds Farley reveals a country that offers new opportunities for a broader spectrum of people, while at the same time generating frustration and apprehension for many who once thought their futures secure. The trends that have so transformed the nation were kindled in the 1960s, a watershed period during which many Americans redefined their attitudes toward the rights of women and blacks. The New American Reality describes the activism, federal policymaking, and legal victories that eliminated overtracial and sexual discrimination. But along with open doors came new challenges. Divorce and out-of-wedlock births grew commonplace, forcing more women to raise children alone and—despite improved wages—increasing their chances of falling into poverty. Residential segregation, inadequate schooling, and a particularly high ratio of female-headed families severely impaired the economic progress of African Americans, many of whom were left behind in declining central cities as businesses migrated to suburbs. A new generation of immigrants from many nations joined the ranks of those working to support families and improve their prospects, and rapidly transformed the nation's ethnic composition. In the 1970s, unprecedented economic restructuring on a global scale created unexpected setbacks for the middle class. The long era of postwar prosperity ended as the nation's dominant industry shifted from manufacturing to services, competition from foreign producers increased, interest rates rose, and a new emphasis on technology and cost-cutting created a demand for more sophisticated skills in the workplace. The economic recovery of the 1980s generated greater prosperity for the well-educated and highly skilled, and created many low paying jobs, but offered little to remedy the stagnant and declining wages of the middle class. Income inequalitybecame a defining feature in the economic life of America: overall, the rich got richer while the poor and middle class found it increasingly difficult to meet their financial demands. The New American Reality reports some good news about America. Our lives are longer and healthier, the elderly are much better off than ever before, consumer spending power has increased, and minorities and women have many more opportunities. But this book does not shy away from the significant problems facing large portions of the population, and provides a valuable perspective on efforts to remedy them. The New American Reality offers the information necessary to understandthe critical trends affecting America today, from how we earn a living to how and when we form families, where we live, and whether or not we will continue to prosper. A Volume in the Russell Sage Founadtion Census Series

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The Pricing of Progress

Economic Indicators and the Capitalization of American Life

Eli Cook

Harvard University Press, 2017

How did Americans come to quantify their society’s progress and well-being in units of money? In today’s GDP-run world, prices are the standard measure of not only our goods and commodities but our environment, our communities, our nation, even our self-worth. The Pricing of Progress traces the long history of how and why we moderns adopted the monetizing values and valuations of capitalism as an indicator of human prosperity while losing sight of earlier social and moral metrics that did not put a price on everyday life.

Eli Cook roots the rise of economic indicators in the emergence of modern capitalism and the contested history of English enclosure, Caribbean slavery, American industrialization, economic thought, and corporate power. He explores how the maximization of market production became the chief objective of American economic and social policy. We see how distinctly capitalist quantification techniques used to manage or invest in railroad corporations, textile factories, real estate holdings, or cotton plantations escaped the confines of the business world and seeped into every nook and cranny of society. As economic elites quantified the nation as a for-profit, capitalized investment, the progress of its inhabitants, free or enslaved, came to be valued according to their moneymaking abilities.

Today as in the nineteenth century, political struggles rage over who gets to determine the statistical yardsticks used to gauge the “health” of our economy and nation. The Pricing of Progress helps us grasp the limits and dangers of entrusting economic indicators to measure social welfare and moral goals.

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Vital Signs Volume 20

The Trends that are Shaping Our Future

The Worldwatch Institute

Island Press, 2013

From meat consumption to automobile production to hydropower, Vital Signs, Volume 20 documents over two dozen trends that are shaping our future in concise analyses and clear tables and graphs. The twentieth volume of the Worldwatch Institute series demonstrates that while remarkable progress has been made over the past year, much remains to be done to get the planet on a more sustainable track.

Worldwide, people are waking up to the realities of a resource-constrained planet: investments and subsidies for renewable energy have reached new heights, consumers are slowly shifting away from meat-heavy diets, and new employment structures like co-operatives are democratizing the global economy. Yet with over 1 billion people lacking access to electricity, natural disasters that are more costly than ever before, and an adherence to the factory farm model of food production, it is clear that many obstacles loom on the horizon.

Covering a wide range of environmental, economic, and social themes, Vital Signs, Volume 20 is the go-to source for straightforward data and analyses on the latest issues facing an increasingly crowded planet. By placing each trend within a global framework, Vital Signs, Volume 20 identifies the solutions we need to transition toward a more sustainable world.

This book will be especially useful for policymakers, environmental nonprofits, and students of environmental studies, sustainability, or economics.

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