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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Sketches from scratches is a provocative blogspot that has grown out of the Wuh Lax experience. It is eclectic, which means that it might consider just about anything from the simple to the extremely difficult. A scratch can be something that is troubling me or a short line on paper. From a scratch comes a verbal sketch or image sketch of the issue or subject. Other sites have other stuff that should really be of interest to the broad reader. I try to develop themes, but variety often comes before depth. ... more!