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Be Wary Of Economists Wielding Short Samples

Correlation by xkcd, a webcomic Oh, the age-old correlation-implies-causation argument. Please reference the blog titled “How to Spot Advocacy Science: John Taylor Edition” posted yesterday by Freakonomics.  It depicts charts prepared by Stanford professor John Taylor and acknowledged by Harvard professor Greg Mankiw (who also linked to the charts without a word about their veracity…until …

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Comic Relief In Jackson Hole

Brown Capuchin Monkey Comedians from the National Bureau of Economic Research (NBER) have hedge fund traders and financial bloggers snickering, including this must-read example at Mish’s Global Economic Trend Analysis. Some of their economic positions as committee members at NBER are highlighted in this Bloomberg article and summarized below: In April 2010, issued a statement …

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