Saturday, 20 April 2013

The consequences of dodgy data in economic analysis

Oops! Another analytical mistake by misguided enthusiats to muddy the waters of economic thought!

Takes an awful lot to get economics correct. It is after all an art not an exact science, as some would have you believe. good economics somewhat like gardening! Knowing what will grow where, when, and why is part of the analytical process.

Don't you love this bantering between right and left wing economists, as if either side really knew! Rogoff and Rheinhart's analysis is neither fully wrong nor right, but it was incomplete and someon found mathematical issues, which is not surprising in a social art. So now a better image of what to do can be had? NOT!

http://www.smh.com.au/business/the-consequences-of-dodgy-data-20130419-2i5q0.html


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