Causal versus Positivist Econometrics

Defining Feature of Real Econometrics: {} We can define “Real Econometrics” as being the search for causal relationships within a collection of variables. There exists an enormous amount of confusion about what exactly is a causal relationship. We will take a simple and practical approach, developed by Woodward in his book on “Making Things Happen”.… Read More Causal versus Positivist Econometrics

Flawed Foundations of Social Sciences

The central goal of this Lecture 10A on “Real Statistics: An Islamic Approach”, is to establish that standard methodologies currently in use in statistics/econometrics, particularly regression, are built on the wrong foundations, and incapable of generating knowledge. To understand WHY this is so, it is necessary to study the flawed philosophy of science used to… Read More Flawed Foundations of Social Sciences

WEA and CME on line conference: THE GREAT LOCKDOWN

qua., 24 de fev. às 13:53 THE GREAT LOCKDOWNAn Interpretative AttemptA conference from the WORLD ECONOMICS ASSOCIATION AND CENTER FOR MARKET EDUCATION 15th April to 15th May, 2021 Organizers  Dr. Carmelo Ferlito and  Dr. Maria Alejandra Madi  This ON LINE Conference aims to discuss recent contributions to the understanding of the Covid-19 economic crisis and its… Read More WEA and CME on line conference: THE GREAT LOCKDOWN

Econometrics to Prove Everything!

I reproduce below an excerpt from my paper on “Methodological Mistakes and Econometric Consequence“, which discusses how “specification searches” allow us to fit models conforming to any theory to any data set. Thus conventional econometric methodology can be used to prove anything at all. References in the excerpt can be obtained from the bibliography in… Read More Econometrics to Prove Everything!