Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6534431782408900608
Aggregate GDP is no longer a useful metric it once was:
Up until the 1980s, GDP was a useful indicator of broad income gains across the United States and up and down the income spectrum. When GDP rose by 2%, the vast majority of Americans saw their incomes rise by about 2%. Indeed, in the decades before the 1980s, those at the top of the income spectrum tended to see their incomes grow by less than the average and those at the bottom by more, resulting in economic growth that pulled the nation together.
Since then, the United States has been pulling apart. So aggregate #GDP is no longer as useful a metric as it once was.
Princeton University Presentation on Measures and MisMeasures:
Beyond Model Risk Management to Model Risk Arbitrage for FinTech Era: How to Navigate ‘Uncertainty’…When ‘Models’ Are ‘Wrong’…And Knowledge’…‘Imperfect’! Knight Reconsidered Again: Risk, Uncertainty, & Profit Beyond ZIRP &; NIRP
More Princeton University Presentations:
ModelRiskArbitrage.com
Latest R&D: Measures, Mismeasures, World Economics, Technology, Global Risk, and, Uncertainty:
https://lnkd.in/eR6439j
#Data #Methods #Models #Measures #Mismeasures
#Risk #Finance #IT #RiskManagement #Economics #Business
#Fact #Fiction #Strategy #Policy #Decisions
