Gene Ludwig shares five key insights from his new book, The Mismeasurement of America: How Outdated Government Statistics Mask the Economic Struggle of Everyday Americans. Ludwig is the former comptroller of the currency and founder of the Ludwig Institute for Shared Economic Prosperity (LISEP), a nonprofit dedicated to uncovering the truths that official statistics too often obscure. His writing has appeared in The New York Times, The Wall Street Journal, The Atlantic, Politico, The Financial Times and TIME.
Americans keep hearing that the economy is strong. Unemployment is low. Wages are rising. Growth is steady. But for millions of families, those headlines feel like a cruel joke. The cost of rent, groceries and healthcare keep climbing while steady, well-paid work remains out of reach. The disconnect isn't just perception—it's baked into the way we measure economic success.
Throughout history, when governments fail to fully appreciate the realities faced by their people, it leads to crisis. The United States may be on the brink of such economic and societal unrest. The unrest that led to the French Revolution and the economic imbalances preceding the Great Depression are both cases in point.
Please select this link to read the complete article from Inc.