Top
The Mismeasurement of America reveals, at long last, why public perceptions of the economy differ so drastically from prevailing statistics. The truth turns out to be disconcerting: The statistics are misleading.
Here we find the roots of growing public resentment. Despite headlines heralding growth and prosperity, most Americans have fallen behind. They’re working harder year upon year not to get ahead but merely to stay apace. For them, the American Dream appears to be slipping farther and farther away.
Beneath the resentment is something else: The misleading statistics that shape our understanding of reality are steering powerful policymakers to make misguided decisions at the federal, state, and local levels alike. And, for most Americans, the results continue to be catastrophic.
How did we get here? Having spent the better part of the last 40 years working on economic policy, former U.S. Comptroller of the Currency Gene Ludwig walks readers through the research done by the economic team at the Ludwig Institute for Shared Economic Prosperity. In the process, we see how outdated definitions have skewed our perceptions of:
- Unemployment
- Wages
- Inflation
- Upward mobility and growth
