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Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.

Evidence? Who wants evidence?

By Megan McArdle
Apr 16 2008, 12:07 PM ET Comment

Ezra Klein recently called for a national medical effectiveness agency:

The final point is that we don't currently have good drug effectiveness information that could help insurers make value-based decisions. As such, they make cost-based decisions. The insurers are behind a national body that would produce this research, as well they should be. Zirkelbach is suggesting that the tiering system, with its somewhat arbitrary nature, is all they can do in the meantime.


I was thinking the same thing when I wondered why the FDA doesn't actually do the clinical trials; surely, the drug companies could pay for the trials the FDA conducts, which would remove the taint of self-interest from the proceedings, and ensure that results don't get buried.

But there are, as this post notes, some political problems associated with assembling that kind of data; how does that information get used? The question I worry more about, though, is does that information get used?

I've been reading (actually, listening to) Supercrunchers, by Ian Ayres. The gist of it is that the advent of huge datasets and better statistical methods is enabling us to replace intuition with vastly superior data-based analytics.

He covers everything from predicting wine quality, to Direct Instruction, to evidence based medicine. And the major unifying theme: in every case, experts have fiercely resisted quantitative methodology. This is why DI and EBM are still not widespread, even though they clearly offer vastly superior results: the professionals who need to implement them don't want to.

Ayres attributes this to overconfidence: even when we know that the script beats the human, we still think that we can beat the script. But he does not, in my opinion, linger long enough on the major source of resistance: the script makes professional jobs less fun. Being the voice, and arms, of a computer is a lot closer to being a data entry clerk than what doctors and teachers envisioned when they entered the profession. So despite overwhelming evidence, both efforts have stalled.

If we're going to have a federal institution do anything, it should be facilitating the roll-out of these kinds of data-driven systems. But the political power is on the side of the providers. I wonder with efforts like the one Ezra proposes whether it wouldn't be dogged by similar problems.

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