Econospinning

PRAISE FOR ECONOSPINNINGWe know that economists are dismal scientists, but scientists nevertheless. This book casts doubt about the science of economic journalism by showing that it's often politically biased, superficial, and inconsistent with facts. An important book.--Baruch Lev, Philip Bardes Professor of Accounting and Finance, New York University Stern School of BusinessEconospinning shines the spotlight on how economic data are chronically misreported by journalists and manipulated by political pundits. Epstein raises the bar in how to think about and interpret economic statistics.--Bill Dudley, Advisory Director, The Goldman Sachs GroupBull markets in bad economic ideas are a lot like bubbles in financial assets--it takes just the right mixture of the cynical and the credulous to produce really extreme outcomes. And, as with asset bubbles, the sooner bad ideas are deflated, the less damage they do. Gene Epstein's clear-eyed analysis in Econospinning is a timely corrective for many of the flawed notions that have made their way into circulation in recent years.--Lou Crandall, Chief Economist, Wrightson ICAPA shocking and provocative book. Econospinning shows how the brightest and most credentialed economists--from Krugman in the Times to bestselling author Steven Levitt--abuse data, and in rather blatant ways at that.--Amar Bhidé, Lawrence D. Glaubinger Professor of Business Columbia University Graduate School of BusinessGene Epstein preaches that a statistic is not how it's labeled; it's how it's collected. Beware the intersection of an emotionally evocative label and a spuriously precise number.--Neal Soss, Managing Director, Credit SuisseGene Epstein's book will raise journalistic standards and cause readers everywhere to mind the news with more care. Paul Krugman has now met his match.--Kent Smetters, Associate Professor of Insurance and Risk Management, The Wharton School, University of Pennsylvania