agip wrote:
Fat hurts wrote:
So the name of the cartoon should be, "Lies, Damn lies, and statistics"?
sorta...sure yeah but to me it's more 'beware big macro theses backed by studies of massively complex economic and social systems. All such studies are flawed.'
I mean we can't even measure inflation correctly, so virtually every metric based on dollars over time is fatally flawed. Income, costs, inequality, everything,
It isn't a "fatal flaw" that metrics, measurements, and statistics are imperfect as long as one understands the degree of uncertainty imposed by those imperfections. Too often partisans dismiss imperfect data, replace it with any alternative reality they prefer, and pretend an equivalence with a data-driven argument.
All models are wrong, but some are useful --- George Box
https://en.wikipedia.org/wiki/All_models_are_wrongWhen you can measure what you are speaking about, and express it in numbers, you know something about it, when you cannot express it in numbers, your knowledge is of a meager and unsatisfactory kind; it may be the beginning of knowledge, but you have scarely, in your thoughts advanced to the stage of science. --- Lord Kelvin