EconTalk How to Avoid Lying With Statistics (with Jeremy Weber)
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Mar 4, 2024 Jeremy Weber, an economist and author of 'Statistics for Public Policy,' discusses the vital role of statistics in shaping informed policies. He highlights the gap between textbook statistics and real-world applications, calling for critical thinking. Weber digs into how data can influence political discourse, using uranium imports as a case study. The conversation also stresses the importance of understanding correlation versus causation and promoting rigorous statistical education to empower civic understanding and enhance data literacy.
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Book Recommendation
- Russ Roberts recommends Weber's book, "Statistics for Public Policy," for readers of all statistical backgrounds.
- It makes statistical jargon and concepts accessible to non-academics.
Uranium Imports
- Jeremy Weber used descriptive statistics to challenge the Commerce Department's proposal to restrict uranium imports.
- His analysis showed the domestic uranium price would be much higher, impacting consumers and nuclear producers.
Context Matters
- Economic findings are often context-dependent, unlike physical laws like gravity.
- Context matters significantly in policy analysis.