The Unemployment Rate Is Not a Fact
Our country’s most trusted economic metric is only a political artifact.
The year was 1875 and Carrol Wright was upset. The mustached state senator from Massachusetts thought that American workers had a problem. Just not the problem that the workers thought they had.
Following the financial Panic of 1873 and nosediving wages, Americans were launching wildcat strikes, torching railroad stations, and fighting ...
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