| Publication |
2011.
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| Summary/Abstract |
The current economic mess has many alleged causes, from greedy bankers and over-generous Chinese lenders, to financially illiterate home buyers and regulators asleep at the wheel. Yet the crisis also revealed, and was in part due to, the limitations of the economic data we have relied on since the Great Depression. Celebrating ever-rising Gross Domestic Product (and for that matter rising corporate profits and share prices) blinded us to the increasingly serious risks we were taking.
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