Whose Economy Is It Anyway?

"Everyone has a general notion of what The Economy is," writes Joel Achenbach in today's Washington Post.

"It's American business. It's the gross national product. Wages. The unemployment rate. Housing starts. Durable goods. Not-so-durable goods. It's all these things and many more, mixed together, a seething, frothing brew of human activity, somehow reduced, through the miracle of modern partisanship, into a political issue."

How do you put your finger on something so amorphous? How do you get your arms around something so vast? If you're Achenbach, you hit the street with two economists — one conservative, one liberal — and translate everyday life into basic economics. Like a car accident, where a little misery, it turns out, is good for the GDP.

How you see the economy, of course, depends on where you fall on the food chain. What are your personal economic indicators?

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  • Ketan

    Being from India, a developing country which is on the verge of entering the world of developed nations (I should say that India has become a developed nation)and in addtion to that being a student of Telecom Management, for me at present, teledensity is one of the crucial economic indicators. India has reached a stage where cellular penetration is going to outpace the basic telephone. That means, in comparision to having 1 connection per household, there now exists more than 1 connection per household.
    This shows that spending power of individuals is increasing. A person having fulfilled his basic needs moves a step above and fulfills his needs of a higher level ( Remember Maslows hierarchy of needs? ).

  • Kelleen

    How often people go out to eat and what they spend on dining out per capita. At least for our family, that's the best indicator!