An excellent article on the difficulty of quantifying job creation. In this case, it is a report by Apple that is coming under scrutiny.

Here is a Harvard economist making a key, true statement:

“Apple has a big effect, and big is about as precise as I can make it,” said Gary P. Pisano, a professor of business administration at Harvard Business School. “It’s hard to say the exact size.”

So when was the last time the government’s job creation numbers were placed under such scrutiny? The government’s claims on job creation are, if anything, more ambiguous and difficult to quantify than Apple’s.

This economics…’tis not science.

-JD Cross

 

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