Business: Better Government Statistics Are Needed

To most Americans, Government statistics are meaningless, dust-dry columns of astronomical figures printed in small type in dull pamphlets. Few citizens actually read the figures, but not one is unaffected by them.

The consumer price index put out monthly by the Bureau of Labor Statistics directly controls the wages of well over 1,000,000 workers; a fractional miscalculation could cost U.S. employers millions of dollars in paychecks. The farm support program is based on the Agriculture Department's calculations of how much farmers must pay for such essentials as tractors, seed and fertilizer. Since these...

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