Step 1: Decide on ideological argument and proposed policy remedies; Step 2: Manipulate data as needed to justify; Step 3: Publish book...
Step 4: Ideological allies receive book rapturously, say it cannot be challenged due to quantitative rigor of underlying data analysis...
Step 5: Data analysis carved up by outside analysts; Step 6: Response from allies = "Data & analysis don't matter -- we KNOW the truth."
Though over at MR, they noted there "were already several major problems" with Piketty even before the FT debunking, including that if you adjust for the housing bubble a few years ago, his results disappear:
http://marginalrevolution.com/marginalrevolution/2014/05/wha...
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[ 0.19 ms ] story [ 24.7 ms ] thread"Dear Hearts,
Marriage has its troubles
like so many broken marbles.
It can get broken, chipped and smashed.
Don't ever get involved in other couples' squabbles,
you can get yelled at, spit at,
and even get your head bashed.
- Shiro."
Step 1: Decide on ideological argument and proposed policy remedies; Step 2: Manipulate data as needed to justify; Step 3: Publish book... Step 4: Ideological allies receive book rapturously, say it cannot be challenged due to quantitative rigor of underlying data analysis... Step 5: Data analysis carved up by outside analysts; Step 6: Response from allies = "Data & analysis don't matter -- we KNOW the truth."
Though over at MR, they noted there "were already several major problems" with Piketty even before the FT debunking, including that if you adjust for the housing bubble a few years ago, his results disappear: http://marginalrevolution.com/marginalrevolution/2014/05/wha...