Unemployment - The Big Lie
Posted by Robbie53024 10 years, 6 months ago to Economics
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While we're very happy to have you in the Gulch and appreciate your wanting to fully engage, some things in the Gulch (e.g. voting, links in comments) are a privilege, not a right. To get you up to speed as quickly as possible, we've provided two options for earning these privileges.
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(Not sure that my comments pertain to this thread though ;^)
I know you have a problem with Austrians as it pertains to IP, but from a strictly economic theory perspective, they have it right. AR had the moral argument, the Austrians have the "science". I already have my own basis for why it is moral, I'm interested in how it functions.
And again, why do you keep trying to tar and feather me with the socialist/progressive brush?
yes, I would much rather study that "novelist"
And there are many more, and in my estimation much better, references on Capitalism than anything that a novelist would have presented. I prefer those who actually study economic theory.
As for statistical models providing accuracy better than the "assumptions," that too isn't exactly correct. There are techniques to reduce the error of data - for example increasing the sample size decreases the standard error by 1 over the square root of the number of samples. A good statistical practitioner knows how to compensate for the type and quality of data.
All that aside, that doesn't mean that gov't statisticians are any good or aren't only out to support their ideological objectives by any means necessary.
There are Lies,
There are Damn Lies,
and then there are Statistics.
There are few better ways to lie and have it believed than through statistics.
When I show my students how unemployment is figured out, they reacted in disbelief. But it really is pathetic.
Have fun!
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