Marketplace All-in-One What if government data becomes untrustworthy?
Jun 3, 2025
Justin Ho, a Marketplace reporter specializing in warehousing and trade, joins Laura Veldkamp, an esteemed Economics professor at Columbia. They discuss alarming potential cuts to federal statistical agencies that could undermine data reliability. Veldkamp warns that unreliable data could severely hinder economic growth. The conversation also explores the booming demand for warehouses amidst tariff uncertainties. Additionally, the vibrant entrepreneurial scene in Provo highlights young innovators navigating a challenging economic landscape.
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Combining Hard and Soft Data
- Hard data measures past economic performance while anecdotal data offers forward-looking insights.
- Combining both types helps understand economic trends especially during uncertain times.
Government Data Cuts Harm Economy
- Cuts to federal statistical agencies reduce data collection and hurt economic policy decisions.
- Reliable government data is crucial for businesses and economic efficiency, preventing costly mistakes.
Government Data Is Irreplaceable
- Government agencies collect data private firms cannot access, such as tax records.
- This makes government data irreplaceable and essential for comprehensive economic analysis.