February 11, 2011

Lies and Half Truths

John Crudele says "Countries get themselves into trouble when they publicize false economic data, whether the deceit is intentional or not. And they confuse people. The Russians, in the 1960s couldn't figure out why they were going hungry when the Kremlin was reporting huge grain crops."

In his book, Development as Freedom, Amartya Sen explains that a country may produce a lot of grain crops, but if they export them due to better prices, people may not be able to get food. If people lack money they cannot purchase food, even if it is plentiful. It may not have been a lie, but a half truth when the Kremlin reported "huge grain crops" while they were exporting them. The US Dept. of Labor reports half-truths on unemployment, which politicians repeat as truths.

http://www.nypost.com/p/news/business/another_view_on_why_there_is_no_4hr26jGyaVVNP8zVsCA23L

Another view on why there is no robust job growth
John Crudele
New York Post
Last Updated: 4:36 AM, February 10, 2011
Posted: 11:45 PM, February 9, 2011

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