The alleged science doesn't match up to the real world.
 â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â
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Dear reader,
Continuing our rollout of our special April print issue on
economic modeling, Seattle entrepreneur Nick Hanauer wrote for the
Prospect about six ways that faulty assumptions built into models
benefit the ultra-wealthy at the expense of everybody else.
Models aren't built to encompass the complexities of real-world
markets; rather, they create abstractions to help policymakers
understand the impacts of different proposals. And due to the biases
they rely upon, Hanauer writes, these models are deeply and consistently
wrong. You can read Nick Hanauer's piece on how economic models help
further concentrate wealth and power here.
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We will be rolling out the rest of the April issue over the coming days.
Click here to read the entire April 2023 issue as it is released.
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