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Researchers Unable To Replicate Findings of Published Economics Studies (businessinsider.com)
An anonymous reader writes: Federal Reserve economists Andrew Chang and Phillip Li looked at 67 papers in 13 reputable academic journals. Their findings were shocking. Without the help of the authors, only a third of the results could be independently replicated. Even with the author's help, only about half, or 49%, could. Business Insider reports: "It's a pretty massive issue for economics, especially given the impact that the subject has on public policy. Li and Chang use a well-known paper by Carmen Reinhart and Ken Rogoff as an example. The study showed a significant growth drop-off once a country's national debts reached 90% of gross domestic product, but three years after being published the study was found to contain a significant Microsoft Excel error that changed the magnitude of the effect." With cancer studies and most recently psychology studies all having replication trouble, these economics papers have some company.
So just like the climate change guys them /ducks_and_laughs
The following from James Delingpole yesterday says it far better than I ever could: http://www.breitbart.com/big-g...
Some choice quotes:
"You don’t need to be a climate scientist to understand this stuff. Or even a scientist. But it has long suited the alarmist camp to pretend otherwise because it would like us all to believe that “climate change” is a mystery which only the elect can understand. That is, they wish to confer on climate scientists the status priests used to have before the invention of the printing press and the translation of the Bible into the vernacular"
"The thing is that thing that I mentioned at the beginning: the guys providing the science for the alarmist agenda are often really quite low-grade."
"The computer models on which anthropogenic global warming theory are based are inadequate to the task because they fail to take into account all the real-world data. And it’s not me saying this stuff: this is a viewpoint coming directly from the alarmist camp."
"But basically, they haven’t a ****ing clue. They can’t do logic; they can’t read or understand the most rudimentary argument; they refuse to accept the truth of their own findings. They’re a bunch of second-raters who yet have the gall to invite us to believe that on their say-so should depend the future of climate science, global environmental policy and, by extension, the world’s economy."
Q.E.D.