Interesting article in Slate by Matthew Yglesias, entitled “Why So Much Economics Data is Garbage”.
Makes the whole endeavor of macroeconomics questionable. At least those who engage in it must have humility for its scientific reach.
My friend, Jack Estill commented: “Interesting, though it would have been nice if he had mentioned that better data would help make the past more undertandable, but not necessarily make the future more predictable. We live in a world of uncertainty.”