Saturday, January 30, 2010

Summers as Performer in the Theatre of the Statistical Absurd

Larry Summers describes the American economy as in a "statistical recovery and a human recession".

Only someone stuck in a mathematical mindset and who over-aggregates could make such a statement.

If economic statistics aren't measuring the actions of human beings, what the hell are they measuring? If we know "humans" (talk about an aggregation!) are in recession, how can an accurate statistics be telling us different?

1 comment:

  1. Great compartmentalization, Larry; great comfort for bureaucratic weasels, none for those suffering from their policies.