This paper discusses the negative role of the U.S. government in the macro-economic issue of inflation in the United States.
Written in 2002; 2,565 words; 5 sources; APA; $ 77.95
Paper Summary:
This paper argues that the U.S. government, for more than a quarter of a century, has been basing its claims on fraudulent statistics and data, and in effect, overstating its actual and real inflation. The author states that using the "Quality Adjustment Method" (QAM), the U.S. government has continued to overstate its profits to the taxpayers, including individuals and business firms, in fact, everyone who earns a profit, whether at home or abroad. The paper demonstrates how the Bureau of Labor Statistics distorts data and figures, and instead, names it quality improvement,by using an example from the automobile sector.
Table of Contents
Introduction
Quality Adjustment Method (QAM)
Understanding the Working of the QAM
The Effect on GDP and IPI
Case Study ? US Automobile Sector
Further Implications of Maintaining Reduced Inflation Levels
Statistical Evidence on the Effect of QAM
Reduced Inflation Used as a Disguise for Attracting Foreign Investment
Conclusive Comments
From the Paper:
"One such motive and utility of the QAM is the widespread coverage provided to the more often than not 'destructive' policies of the Federal Reserve Board. As also mentioned above in the preceding paragraphs, the disguised figures for inflation are evidence enough for the virtually bankrupt "post Bretton- Woods floating exchange rate of inflation system" to remain afloat. And, one of the methods used is the printing of billions of dollars in new currency every year, in turn creating a hyper-inflationary spiral economy, even though most of the inflation so created is hidden through such formulas as the QAM, and officially the consumer price index (CPI) may just be 2.1 percent."
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