The Sage

Government Statistics: Perfecting the Art of Mass Deception

Before the moral indignation reaches an intolerable level, it may be worthwhile to note that the government may be borrowing a page or two from the private sector. My recollection is that, on occasion, the basket of companies comprising the market indices (like the Dow) is "updated" periodically to "more accurately reflect" market conditions. For some unknown reaon, this often has the effect of improving the performance of the subject index.