LOGICAL MINING OF ECONOMIC MEASUREMENT

Book excerpt: As one of the critiques of contemporary economic statistics, this corpus mainly queries the Report by the Committee on the Measurement of Economic Performance and Social Progress headed by J.E. Stiglitz. The Report can be divided into three parts: classical GDP issues, quality of life, and sustainable development and environment. This corpus analyzes the necessity, especially the feasibility, of "systematic revolution" in economic measurement, and points out the logical break between measurement issues and solutions. This is a common economic measurement problem facing mankind at present, so we cannot emphasize the quantitative analysis of empirical evidence while are extremely contemptuous of the basis of economic statistics. Otherwise, the data obtained from the deeper model will lose its real and clear economic significance, which is a common fault of contemporary economics, and economic statistics has great potential. This corpus is suitable for those who are engaged in or interested in empirical analysis of economic statistics. It can be read by postgraduates and undergraduates majoring in economics and management. It can also be used as a reference for teachers engaged in economics teaching.