by Bill Butos The New York Times of January 22 reports that the Obama administration has created a “billion-dollar government drug development center to help create medicines” as part of the federally funded National Institutes of Health. According to the article, its rationale is to undertake research leading to the commercial development of drugs that … Continue reading Update on Government and Science
by Roger Koppl McClatchy-Tribune Information Services has been distributing my op ed with Dan Krane on "Science rules the FBI should obey." We discuss an example of epistemic monopoly in action, namely, the FBI's failure so far to release anonymized data from its vast NDIS (National DNA Index System) data set. The NDIS data set contains … Continue reading Epistemic monopoly is still a bad thing
by Mario Rizzo Paul Samuelson has died at the age of 94. There is already a big New York Times obituary lauding his many contributions and more will inevitably follow. Many economists will want to use this occasion to demonstrate how much they appreciate economics as a science and how this appreciation transcends ideological divides. This will … Continue reading The Death of Paul Samuelson and Selection Bias
by Roger Koppl The term “magical thinking” has different meanings, most of them involving something like extrasensory perception or the efficacy of spells. Here I define it as an argument, one of whose steps requires something impossible. (Larry White helped me with this definition, but gets no blame for it or anything I say here.) … Continue reading Against Magical Thinking
by Roger Koppl Over at Division of Labor, Noel Campbell picks a fight with Austrian fans of Mises. “I always conceived of Mises’ efforts as attempting to build a logically correct and (therefore) irrefutable description of human behavior. As such, I always viewed Human Action as a work of philosophy, not science.” Noel hints that … Continue reading Mises Was A Scientist
by Gene Callahan I've been pondering this point a bit lately, and this seems like a good place to share my musings and get some feedback. The main questions I've been pondering are things like, 'How is a model "accurate"?' 'What makes something a model of one thing and not another?' 'How do we know … Continue reading What Is a Model?