PRINCETON The late, sharp-witted economist Michael Mussa, my first boss at the International Monetary Fund, once told me that every statistic must pass the “smell test”. I recalled this sage advice recently when Indian authorities published the first driblets of a consumption survey in over a decade. The numbers stink.
PRINCETON The late, sharp-witted economist Michael Mussa, my first boss at the International Monetary Fund, once told me that every statistic must pass the “smell test”. I recalled this sage advice recently when Indian authorities published the first driblets of a consumption survey in over a decade. The numbers stink.