PopTheLops Posted October 25, 2011 Report Share Posted October 25, 2011 Is there any bias in economics? I couldn't find any concrete examples.. Reply Link to post Share on other sites More sharing options...
citizenoftheuniverse Posted October 25, 2011 Report Share Posted October 25, 2011 Well, at least different economic indicators have bias. For example, GDP does not count what you produce, unless you sell it to someone else. So then, if you and your neighbor both paint your own houses, that does not increase GDP, but if you paint your neighbors house for 200 dollars/euros/whatever and they paint yours for the same amount, that increases GDP, even though neither of you lost or gained money. So if you are completely self sufficiant, you are completely ignored by GDP and are totally unimportant. So there are many problems with GDP and it is biased, and since GDP is a widely used tool in economics I guess that makes economics a bit biased. However, I am not sure if this was what you were looking for... 1 Reply Link to post Share on other sites More sharing options...
Victoria Miller Posted November 1, 2011 Report Share Posted November 1, 2011 Is there any bias in economics? I couldn't find any concrete examples..I think that economics is definitely bias because of the way its many indicators manipulate data to gather conclusions that favor particular countries and economies, GDP not being the only one, HDI as well...but there are so many. Check out the CIA World Fact Book or even google economic indicators and you will pull up a ton. It is not only the way the information is put together through formulas and figures, but also the way in which data is gathered in the first place. Some data is very precise, some approximate, and some is of the "well he told me, so thats what I said" sort. But all data is gathered with a specific reason in mind, hoping for a particular result, and therefore data is usually altered to fit what is needed. This is what, I believe causes there to be a foundational bias in economics which than manifests itself through the rest of the system... Reply Link to post Share on other sites More sharing options...
PopTheLops Posted November 1, 2011 Author Report Share Posted November 1, 2011 ok thanks a lot this helped me quite a bit Reply Link to post Share on other sites More sharing options...
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