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    • Problems with Economics: The Cult of Utility
      I first took Economics in Grade 11. We used the standard college textbook at time, written by Lipsey, Steiner, and Sparks. It started with axioms–the assertions upon which economics are based. The most important axiom  was the following: Humans act to maximize utility. Utility. What is economic utility? It’s generally defined as how useful a product […] […]
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Lies, damned lies and statistics


Warning: This is another post is about those awful tea-bagging mad hatters and may induce headaches, nausea, flatulence and/or incontinence in some people. Reader discretion is advised

 



From MSNBC:

 

Just 32% of Tea Party candidates win

For all the talk of the Tea Party’s strength – and there will certainly be a significant number of their candidates in Congress – just 32% of all Tea Party candidates who ran for Congress won and 61.4% lost this election.


The first thing that jumped out at me was “MSNBC.”

 

I’m not calling anyone a liar but I wouldn’t trust that outfit to present the truth, the whole truth and nothing but the truth on the topic of Tea Partiers any more than I would trust FOX News to be fair and balanced on the same subject.

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