Wednesday, 27 April 2016

The problem with measuring a 2016 economy using 1940s methods (Diane Coyle, WEF)

Silhouetted workers walk in front of office towers in the Canary Wharf financial district in London February 16, 2011. New Bank of England forecasts opened the door on Wednesday for interest rates to rise slowly in Britain but Governor Mervyn King warned against jumping to conclusions about when the central bank would pull the trigger.

Britain’s tallest mountain is Ben Nevis in Scotland. Recently, it became one metre taller, standing now at 1 345m rather than 1 344m above sea level. Of course, the mountain did not actually grow. Rather, the team of Ordnance Survey experts who re-measured it for the first time since 1949 were able to do so more accurately because of improvements in technology, and specifically through the use of GPS.

https://www.weforum.org/agenda/2016/04/the-problem-with-measuring-a-2016-economy-using-1940s-methods

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