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Losing the Signal in the Noise

In: Delivering Development

Author

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  • Edward R. Carr

Abstract

How we measure globalization, development, and human well-being has important implications for how we understand the human condition around the world and the likely economic and environmental future toward which we are moving. Contemporary development policy, like economic policy, is grounded in a tremendous amount of empirical data. For example, global trade patterns are analyzed via a variety of measures. Some are well known, such as the Gross Domestic Product (GDP). Others are far more esoteric; for example, the Baltic Dry Index, a measure of shipping costs for commodities. In the months leading up to the economic collapse of 2008, this database recorded a precipitous decline in the cost of shipping, as the supply of ships greatly outstripped the number of goods being shipped, warning of the collapse to come.

Suggested Citation

  • Edward R. Carr, 2011. "Losing the Signal in the Noise," Palgrave Macmillan Books, in: Delivering Development, chapter 0, pages 131-144, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-31997-4_9
    DOI: 10.1057/9780230319974_9
    as

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