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How Often Do Economists Commit Misconduct?
schwit1 (797399) writes A survey of professional academic economists finds that a large percentage are quite willing to cheat or fake data to get the results they want. From the paper's abstract: "This study reports the results of a survey of professional, mostly academic economists about their research norms and scientific misbehavior. Behavior such as data fabrication or plagiarism are (almost) unanimously rejected and admitted by less than 4% of participants. Research practices that are often considered 'questionable,' e.g., strategic behavior while analyzing results or in the publication process, are rejected by at least 60%. Despite their low justifiability, these behaviors are widespread. Ninety-four percent report having engaged in at least one unaccepted research practice."
That less than 4% engage in "data fabrication or plagiarism" might seem low, but it is a terrible statistic . ... 40% admit to doing what they agree are "questionable" research practices, while 94% admit to committing "at least one unaccepted research practice." In other words, almost none of these academic economists can be trusted in the slightest. As the paper notes, "these behaviors are widespread.""
That less than 4% engage in "data fabrication or plagiarism" might seem low, but it is a terrible statistic . ... 40% admit to doing what they agree are "questionable" research practices, while 94% admit to committing "at least one unaccepted research practice." In other words, almost none of these academic economists can be trusted in the slightest. As the paper notes, "these behaviors are widespread.""
I knew the shit would hit the fan. All those experts are either complete, utter fools - or they were outright lying to all of us!
They were lying.
Like many aspects of the DotCom bubble before it, the housing bubble was thoroughly well understood and predicted by pretty much every observer (and discussed as such by those with integrity). The only people who said otherwise were those who were participating for their own benefit, and who well understood the risk to themselves of prematurely bursting their giant Ponzi scheme.
Similar liars will crawl out of the woodwork to pump up the next bubble too, I'm sure.
"I've got more toys than Teruhisa Kitahara."
Remember the collapse from the housing bubble burst? Who predicted that? Precious few men and women knew it was coming, and damned near none had any idea how bad it could be.
A bunch of people predicted it. They were ignored.
"Irrational exuberance" Greenspan called it
Here's a website devoted to documenting the people who predicted the bubble
http://investorhome.com/predicted.htm
They even quote Warren Buffet calling derivatives "time bombs."
[Fuck Beta]
o0t!