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No Statistics, No Mischief
Weekly Standard, by Andrew Ferguson

Original Article

Posted By:grace52, 1/23/2014 11:37:13 AM

It´s been more than a week now and I’m beginning to suspect she’s not going to call, so here I will offer Janet Yellen the advice I’ve been hoping to give her privately since the Senate confirmed her as the new chairman of the Federal Reserve. My advice is: Think about John Cowperthwaite. By this I mean: Really think about John Cowperthwaite. The name is familiar to economic historians, academics in postcolonial studies, specialists in the tax policy of the Far East, and avid libertarians, but less well known to normal people.

Comments:
Headline corrected by staff to remove descriptive wording below

      


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Reply 1 - Posted by: woofwoofwoof, 1/23/2014 11:46:02 AM     (No. 9702514)

Obamacare is an example of trying for WAAAAAY too many "statistics".

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Reply 2 - Posted by: Blue-Z-Anna, 1/23/2014 12:13:29 PM     (No. 9702551)

The whole Communism Thingee is based on an Accountant´s point of view of the world.

Terms like ´redistribution´ are cooked up by people who never built anything but who have become very good at counting and measuring the works of others.

Those who would ´redistribute´ wealth have no idea of what wealth really is.

It´s not a warehouse full of stuff.



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Reply 3 - Posted by: bad-hair, 1/23/2014 12:32:12 PM     (No. 9702583)

Statistics ... The shortest distance between an unwarranted assumption and a foregone conclusion.

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Reply 4 - Posted by: Freeloader, 1/23/2014 12:41:15 PM     (No. 9702598)

FTA: "Asked once what the greatest and farthest reaching policy of his tenure was, he replied:´I abolished the collection of statistics."

They say great minds think alike. Evidently, the late Sir John Cowperthwaite included works of Samuel Clemens in his readings of the classics at Christ College, Cambridge---"There are lies, damned lies and statistics."

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Reply 5 - Posted by: Objectivity, 1/24/2014 12:31:30 AM     (No. 9703547)

great article - thanks for posting original poster. Too many have forgotten already the economic miracle of Hong Kong post-WW2. It was similar in post war Germany....

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