Rich and Co.

Reality Check – “economics research is usually not replicable.”

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“Given the importance of decision-making based on what appear to be empirical findings, but which can’t stand up to scrutiny, this should worry government councils and corporate boardrooms alike. …the presumption that research published by credible journals is automatically valid; because this is how errors and misconceptions become gospel. They also show that economics suffers from the same maladies as research in the “hard” sciences: glory tends to flow toward those who make eye-catching assertions, but not to the drudgery, essential as it is, of validating those claims. Therefore very little of the latter is done. “


Written by Rich and Co.

October 13, 2015 at 7:13 pm

Posted in Uncategorized

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