Friday, May 05, 2006

A case of data inconveniently not fitting with the template

From today's Times:

A chart on Tuesday with an article about Zimbabwe's high inflation rate misstated the reasons for its sharp rise and fall during 2004. The rise was caused by a flight of foreign capital, shortages and a steep increase in the money supply, not by the government's seizure of commercial farms. The fall was caused by a rise in interest rates and an economic slowdown, not by price controls. (Go to Article)

This is a strange one. The two original rationales were way off. You wonder: were these hypotheses that the reporter imposed on the data, not bothering to do any research on what the causes might otherwise be?

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