Economic Statistics Quotes

The kingdom of Bhutan replaced standard economic measures with measures of happiness as long ago as 1972. Yet Bhutan’s G.D.P. per head is still one of the lowest in the world, life expectancy is relatively low and infant mortality high, so it is easy to see why the king would not want anyone to mention the economy.

No single number has become more central to society in the past 50 years” than gross domestic product.

The economy of the United States gross domestic product doubled from 1996 to 2015, doubled, more than, $8.8 trillion to $17.1 trillion. And the median household income went down.

When we hear (as we sometimes do) that (Russia's) economic output is about half the level of a decade ago or that real incomes have fallen sharply, it is worth recalling that economic statistics under the Soviet Union were hardly more reliable than any other official statements. Moreover, a country that produces what no one wants to buy, and whose workers receive wages that they cannot use to buy goods they want, is hardly in the best of economic health.

Economists state their GNP growth projections to the nearest tenth of a percentage point to prove they have a sense of humor.

Until the early 20th century, significant economic hardship was so woven into human history and experience that it wasn’t yet seen as an aberration. Only the combination of a severe crisis and the belief that such crises not only could but should be prevented by collective government action led to the creation of unemployment statistics.

Recently released government economic statistics covering 2010, the first year of real recovery from the financial collapse of 2008, found that fully 93 percent of additional income gains coming out of the recession went straight into the wallets and purses of the top 1 percent.

There are a lot of spin doctors on the economic numbers, not just politicians.

Our economy will not prosper as long as it is monopolised (by the government). The economy must be rid of monopoly and see competition, it must be freed of insider speculation, be transparent, all people must be aware of the statistics. If we can bring transparency to our economy, we can fight corruption.

Nothing is more destructive than the gap between people's perceptions of their own day-to-day economic well-being and what politicians and statisticians are telling them about the economy

There are folks out there, especially during the political season, that'll try to twist and turn economic statistics for their own personal benefit, to pick and choose talking points in order to tear Montana's progress down.

The so-called leading [economic] indicators no longer answer the most important questions people are raising about how they live.

Almost every key indicator of the current economy - unemployment, deficits, housing, energy - argues that Obama's reactionary all-powerful statist approach has only made things far worse.

The specific experience with which economics and economic statistics are concerned always refers to the past. It is history, and as such does not provide knowledge about a regularity that will manifest itself also in the future.

Those business successes who do not think that the Government had a critical part in their success should imagine the cessation of all government services. They could not clear a check. There would be no courts to enforce their contracts and protect their intellectual property. No one would protect their assets at home or abroad or on the high seas. Most of the American R&D would stop producing new innovations for their use. They would have no economic statistics with which to plan. Their workforce will not have the education and training provided by government schools or government aid to private schools and students. No government; No Business!

It comes as no surprise that average Americans have a different perception of the economy than (US President) George W. Bush and his friends. They can play around with statistics as much as they want, but it's clear that we have an unfair distribution of wealth.