Subject: The trouble with empirical economics
From: "Bloomberg View" <[email-masked]>
To: <[email-masked]>
Date: Tue, 28 Nov 2017 05:02:34 -0500 (EST)

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}A daily digest of opinions and analysisThe Data Revolution in Economics Has Growing PainsNumbers may not lie, but they can mislead. With evidence mounting that too many econ studies use small sample sizes that give false positives, Noah Smith sees a course correction ahead for the so-called empirical revolution. Collective Intelligence Can Change the WorldPsychologists have catalogued dozens of ways humans deceive themselves — but what if people, institutions and machine worked together to guard against mistakes? In an excerpt from his upcoming book "Big Mind," innovation expert Geoff Mulgan heralds a groundbreaking new era of "autonomous" intelligence.The Consumer Price Index Can't Find Its Happy PlaceRepublicans have thrown their support behind a new definition of the CPI, but history shows the dangers of choosing a single statistic to represent the economic realities of all Americans. Stephen Mihm explains why improving the score often comes at the expense of specific groups (including, this time, older Americans).California Republicans Pay the Price for Donald TrumpThere's an epidemic of political self-sabotage in the Golden State, with vulnerable Republican lawmakers supporting a tax plan that would hit their own real-estate-rich constituents hard. What gives? Francis Wilkinson says the votes show how fully the president owns the GOP.How China Can End Its Slew of Kindergarten ScandalsChina's kindergartens should have one staffer for every five students, according to government guidelines. Today, the ratio is closer to one to 18, and scandals are becoming routine. Adam Minter considers what the government must do to protect the country's children and reassure fed-up parents. (Hint: It should start by paying teachers properly.)Today Only: Netflix and Chill With Joe Nocera and Shira OvideThis afternoon, join Bloomberg's smartest media and tech columnists on Facebook Live to discuss the future of Netflix. See you at 2:20 p.m. ET!Ritholtz's ReadsMillennials are set to be the most unequal generation (Quartz)I’m on the FCC. Please stop us from killing net neutrality (Los Angeles Times)Beyond modern portfolio theory: liability-driven investment strategies (CFA Institute)(Read Barry Ritholtz's full daily news roundup here.) Bloomberg GadflyNorway's $1 trillion gorilla shouldn't set your payThe bitcoin bubble makes dot-com look rationalGoldman's barracuda role signals return of the big fish(Read more from BV's sister site for fast business commentary.)http://link.mail.bloombergbusiness.com/click/11400994.27535/aHR0cDovL3d3dy5mYWNlYm9vay5jb20vYmxvb21iZXJndmlld0Jsb29tYmVyZw/57d81a102ddf9c08613460d7Bb3c4feb7 L.P. ● 731 Lexington Avenue, New York, NY 10022Web ● Facebook ● TwitterFeedback ● Unsubscribe

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