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Give me one logical reason why we should give the NBER the authority to declare whether the United States of America is in a recession. First, the NBER is not
by Victerius 4y ago
Give me one logical reason why we should give the NBER the authority to declare whether the United States of America is in a recession.
First, the NBER is not a government agency. It's a private organization.
Second, there is no law that says that the NBER has the legal authority to declare recessions.
- dragontamer 4y agoYou've got it backwards. As a society, we've already given NBER the authority to declare recessions. They are the official recession caller of the country. Its you who has to argue why NBER's methodology is wrong.
- deleted 4y ago[deleted]
- lotsofpulp 4y agoThe NBER has no authority. They are simply stating their opinion. Perhaps some people use NBER's opinion to influence their decisions, but you, or any court, is not under the obligation to use their opinion (unless specified in a contract).
- sokoloff 4y agoWhat’s the legal authority I have to state an opinion based on the data I see? There is none and none is needed. If I get known to be trustworthy and reliable on a given topic, that’s the authority I’d have, a reputation-based authority, not a legal authority.