junho 10, 2013

Quality Data

Every time an official statistic, like inflation, unemployment of GNP growth is presented in the media, we should remember Campbell's and Goodhart's «laws» and take the data with a grain of salt:

"The more any quantitative social indicator is used for social decision-making, the more subject it will be to corruption pressures and the more apt it will be to distort and corrupt the social processes it is intended to monitor." -- Campbell's law

"When a measure becomes a target, it ceases to be a good measure." -- Goodhart's law

Imagine if there was corruption in the reporting of scientific data. Would, say, Physics or Chemistry advanced as they did? It's much harder to do Science, Economic or any other, in such biased context.

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