Archive for the ‘Uncategorized’ Category

The Colbert Report: Austerity’s Spreadsheet Error

Stephen Colbert goes to town on the Ivy League economists getting busted by UMASS-Amherst grad student Thomas Herndon for sloppy work that was used to justify economic austerity in many countries including the US

The interview with Thomas Herendon

I’ve been a fan since the days of Black Flag in the early 80s

Did Chavez’ Pick Steal the Election in Venezuela? (Greg Palast for Vice Magazine)

Nassim Taleb exposing economists’ scientific fraud hidden behind mathematics

Nassim Nicholas Taleb posted this on FB:
We Can Start Exposing Economists:
I just finished a very rough draft of *Fat Tails & (Anti)Fragility* (~100 pages). 
https://docs.google.com/file/d/0B_31K_MP92hURjZxTkxUTFZnMVk/edit?pli=1
PART I provides a mathematical toolkit to detect anything that is bullshit in economic modeling (particularly macroeconomics), figure out which papers are flawed from a scientific standpoint, etc. When I mean flawed, it is on the basis that the math used impresses nonmathematicians but does not support the stated policy conclusions. 
So I start by putting one Karl Whelan “scientific” work under severe mathematical scrutiny. I select him to start as he worked with central banks, the perfect profile of the person supported by the taxpayer against the taxpayer’s own interests. I also had a disgraceful encounter with him and his macro peers on twitter.
Mr Whelan’s papers can be found here: http://ideas.repec.org/e/pwh23.html
We can progressively expose mathematized social science that way, as I am refining the text, adding words and examples.

“Economists afraid of ethics?” (macrobusiness.com.au)

you know we (the economics profession) were not always such scum-bags. Back in the 19th century political-economists (that’s how we called ourselves then… in the 18th c. we were “moral-philosophers”) were at the forefront of the struggle for the abolition of slavery, the emancipation of women, universal suffrage, etc.