Politicians and pundits cheer and jeer over individual companies' employment decisions. How weirdly corporatist we've become.
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Walmart gave a bonus. Walmart gave a raise. Walmart closed some stores and laid off everyone who worked there. That's business news. An anecdote. A data point.
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It's especially misleading in this age of information bubbles. In Red Bubble: anecdotes of bonuses and raises. In Blue Bubble: anecdotes of closings and layoffs. Two Disconnected Americas.
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This isn't the government's job (except, maybe, in extraordinary macroeconomic circumstances). I thought we agreed on this. Either way, it definitely does not paint an accurate picture of the costs and benefits of fiscal policy. Stop it. (I know they won't). Alright. Rant over.
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Don't forget labor force participation rate. And don't go corporatist yourself by touting GDP, when GDP per capita is much more important to almost everyone. Consumer businesses would be happy to import 10 million welfare recipients, and focus on total GDP because it helps sales.
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Yes on labor force participation rate, but much of it factors into unemployment (U6) GDP and GDP/capita both useful. Although the latter can be misleading because it's an average Regardless, my point is all nat'l metrics measure the nat'l economy. What a few businesses do doesn't
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