Monday, October 26, 2015
Collis Mckenzie, Chapter 9, Question #6
I learned about another way that politicians could potentially use specific word play to lie without technically lying. The idea of GDP versus real GDP is an important distinction to make. If the nominal GDP increased by 40%, but inflation also increases by 40% then there really isn't any change., but politicians could say that there was massive GDP growth and be misleading but not technically lying. It's just more another outlet to mislead people who don't know much about economics. It reinforced the idea for me that politics is full of buzzwords that people don't understand.
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