I know that Paul Krugman was not really serious when he linked this study naming him the most accurate prognosticator in America. Nonetheless, it's getting some play around the internet, and a warm reception from people who don't seem to know any better, so it's worth pointing out why this sort of thing is so dreadful. I mean, I'm sure it was a very fine senior project for the Hamilton College students who produced it, but the results tell us nothing at all about the state of prognostication in this country.
Krugman quotes this segment from the Hamilton College press release:
Now, a class at Hamilton College led by public policy professor P. Gary Wyckoff has analyzed the predictions of 26 prognosticators between September 2007 and December 2008. Their findings? Anyone can make as accurate a prediction as most of them if just by flipping a coin.
The students found that only nine of the prognosticators they studied could predict more accurately than a coin flip. Two were significantly less accurate, and the remaining 14 were not statistically any better or worse than a coin flip.
The top prognosticators - led by New York Times columnist Paul Krugman - scored above five points and were labeled "Good," while those scoring between zero and five were "Bad." Anyone scoring less than zero (which was possible because prognosticators lost points for inaccurate predictions) were put into "The Ugly" category. Syndicated columnist Cal Thomas came up short and scored the lowest of the 26.
I myself read Paul Krugman more often than Cal Thomas, so perhaps I should take this as evidence of my perspicacity . . . but no. This is nonsense. The study runs for a little over a year, between September 2007 and 2008. They didn't even look at all of the statements made by the prognosticators, but at a "representative sample", presumably because they couldn't handle the volume that would be required to analyze all of it. Some of the prognosticators made too few testable predictions to generate good results, and the riskiness of the prediction varied--someone who predicted that Obama was going to win the election in October 2008 seems to have gotten the same "score" for that flip as someone who predicted that Obama would do so in September 2007. The number of predictions varied between commentators, making comparison even more difficult.
Against this background, it makes no sense to say--as the students and the press release do--that this study shows that "a number of individuals in our sample, including Paul Krugman, Maureen Dowd, Ed Rendell, Chuck Schumer, Nancy Pelosi, and Kathleen Parker were better than a coin flip (sometimes, substantially so.)" One of the commonest fallacies you see among beginning students of probability is the belief that if a coin has a 50% chance of turning up heads, then anyone who flips a coin multiple times should end up getting half heads, and half tails.
This is not true--especially when you have a small number of "flips", as most of the prognosticators did. (It's not surprising that George Will, who made the greatest number of predictions, was statistically very close to zero.) Rather, if you get a bunch of people to flip coins a bunch of times, you'll get a distribution. Most of the results will cluster close to 50/50 (as was true in this case), but you'll get outliers.
This is often pointed out in the case of mutual fund managers, as John Bogle does using this graph:
And indeed, my finance profs taught me that the top mutual funds in a given year are not any more likely to show up as next year's top funds. Indeed, they may be less likely to do well the next year. Why? Because funds have strategies, which do better or worse depending on market conditions. The funds that do well in a given year are probably the funds that were especially well positioned to show outsized fluctuations in response to whatever changed that year--but that also means that they're especially likely to do lose money when those conditions change. Because the fluctuations are a random walk, they do not vindicate the fund manager's strategy or perspicacity--but they may seem to, temporarily.
Which may cast some light on why liberal pundits did especially well in this test. If you were the sort of person who is systematically biased towards predicting a bad end for Republicans, and a rosy future for Democrats, then election year 2008 was going to make you look like a genius. If you were the sort of person who takes a generally dim view of anything Democrats get up to, then your pessimism was probably going to hit more often than it missed.
It would be interesting to go back and look at the same group in the year running up to 2010. But even then, it would tell us very little. To do any sort of a true test, we'd have to get a bunch of these prognosticators to all make predictions about the same binary events, over a lengthy period of time, and then see how they fared over a multi-year period. I suspect that they'd end up looking a lot like mutual fund managers: little variation that could be distinguished from random variance.
Once you take into account their fees, mutual fund managers, as a group, underperform the market. And I suspect you'd see the same thing with pundits: as a group, they'd slightly underperform a random coin flip. People like Lindsay Graham cannot go on Meet the Press and say "Yup, we're going to lose on November 2nd" even when it is completely obvious that this is what will happen; they need to present an optimistic bias for their base. Over time, that optimistic bias about no-hope causes will cause a slight negative drag on the predictive power of their statements.
Does that undermine the credibility of pundits? I don't think that predictions are the fundamental purpose of punditry (though I do encourage people to make them as a way of raising the stakes on the truth claims they make, and in order to give us a benchmark against which to analyze our reasoning). Pundits offer predictions, yes, but more importantly, they offer you facts, context, and analysis. Their really important work is to help you make your own wrong predictions about the world.
The Fox host’s insistence that black laborers building the White House were “well-fed and had decent lodgings” fits in a long history of insisting the “peculiar institution” wasn’t so bad.
In her widely lauded speech at the Democratic National Convention on Monday, Michelle Obama reflected on the remarkable fact of her African American family living in the executive mansion. “I wake up every morning in a house that was built by slaves. And I watch my daughters, two beautiful, intelligent, black young women, playing with their dogs on the White House lawn,” she said.
On Tuesday, Fox News host Bill O’Reilly discussed the moment in his Tip of the Day. In a moment first noticed by the liberal press-tracking group Media Matters, O’Reilly said this:
As we mentioned, Talking Points Memo, Michelle Obama referenced slaves building the White House in referring to the evolution of America in a positive way. It was a positive comment. The history behind her remark is fascinating. George Washington selected the site in 1791, and as president laid the cornerstone in 1792. Washington was then running the country out of Philadelphia.
Slaves did participate in the construction of the White House. Records show about 400 payments made to slave masters between 1795 and 1801. In addition, free blacks, whites, and immigrants also worked on the massive building. There were no illegal immigrants at that time. If you could make it here, you could stay here.
In 1800, President John Adams took up residence in what was then called the Executive Mansion. It was only later on they named it the White House. But Adams was in there with Abigail, and they were still hammering nails, the construction was still going on.
Slaves that worked there were well-fed and had decent lodgings provided by the government, which stopped hiring slave labor in 1802. However, the feds did not forbid subcontractors from using slave labor. So, Michelle Obama is essentially correct in citing slaves as builders of the White House, but there were others working as well. Got it all? There will be a quiz.
A former NATO general imagines a frightening scenario.
In 2014, shortly after Russia forcefully intervened in Ukraine and admitted Crimea into the Russian Federation, Richard Shirreff stepped down as NATO’s deputy supreme allied commander Europe, one of the highest-ranking positions in the military alliance. The British general proceeded to do something highly unusual. He criticized the government he once served, arguing that Britain’s cuts to defense spending were “one hell of a risk” at a time of renewed Russian aggression. Next, he wrote a startling account of what might follow from the failure of the United Kingdom and many of its NATO allies to, in his view, sufficiently invest in countering the Kremlin militarily. He describes the account as a “work of fiction,” but also a “realistic” and “urgent” warning.
The billionaire former New York mayor denounced the Republican nominee as a “dangerous demagogue” and a “risky, reckless, and radical choice.”
Michael Bloomberg, a brand-name billionaire far wealthier than Donald Trump, a famously independent voter who derides both the Democratic and Republican parties, endorsed Hillary Clinton on Wednesday and called Trump a “risky, radical and reckless choice” for president.
“Let’s elect a sane, competent person,” he said.
The normally soft-spoken owner of Bloomberg financial-news service excoriated his fellow New Yorker, labeling him a “dangerous demagogue,” a hypocrite, a con, and—slashing at the core of Trump’s self-worth—a horrible businessman.
“Throughout his career,” Bloomberg said in his prime-time address. “Trump has left behind a well-documented record of bankruptcies and thousands of lawsuits and angry shareholders and contractors who feel cheated and disillusioned customers who feel ripped off. Trump says he wants to run the nation like he’s run his business. God help us!”
His first Q&A on the site seemed free-wheeling and open to all, but it was actually obsessively controlled.
Cruising the skies above Ohio (and perhaps looking to take more attention away from the Democratic National Convention), Donald Trump tried a new publicity tactic Wednesday night. Instead of his typical podium-and-flag setup, he opened his MacBook and invited users of Reddit to ask him anything.
AMAs—that’s the popular abbreviation—are a staple of the free-wheeling forum site, which has hosted hundreds of celebrities and slightly less famous people who are willing put out a shingle and take questions from strangers on the internet. Reddit—part old-school forum, part meme-machine, part possible-future-of-human-society—prides itself on its community, which moderates itself and (in theory) highlights the best the internet has to offer. Barack Obama hosted his own AMA back in 2012; so have Bill Gates, Patrick Stewart, and a guy who fought off a bear.
His call on a foreign government to hack Hillary Clinton’s email account is a complete subversion of GOP ideals.
The first excuse for Donald Trump’s amazing press conference on Wednesday, in which he called on the Russians to hack and publish the 30,000 emails wiped from Hillary Clinton’s home server, was: He was only joking.
That excuse almost immediately dissolved. When Trump was asked by CNN’s Jim Acosta whether he would call on Vladimir Putin to stay out of U.S. elections, the presidential nominee answered that he would not tell Putin what to do. After the conference ended, Trump tweeted out a slightly tidied up request to the Russians to find Clinton’s emails—but to hand them over to the FBI rather than publish them.
The second excuse, produced on Twitter minutes later by Newt Gingrich, is that Trump’s remark, while possibly unfortunate, mattered less than Clinton’s careless handling of classified material on her server. That defense seems likely to have more staying power than the first—about which, more in a minute.
The Republican presidential nominee appeared to suggest he’d recognize Russia’s annexation of the Ukrainian territory in 2014.
Donald Trump’s call on Russia to hack Hillary Clinton’s emails Wednesday resulted in widespread criticism. But his comments on Crimea, coupled with ones he made last week on NATO, are likely to have greater significance if he is elected president in November.
The question came from Mareike Aden, a German reporter, who asked him whether a President Trump would recognize Crimea as Russian and lift sanctions on Moscow imposed after its 2014 annexation of the Ukrainian territory. The candidate’s reply: “Yes. We would be looking at that.”
That response is likely to spread much cheer through Russia—already buoyant about the prospect of a Trump victory in November. But it could spread at least an equal amount of dread in the former Soviet republics. In a matter of two weeks, the man who could become the next American president has not only questioned the utility of NATO, thereby repudiating the post-World War II security consensus, he also has seemingly removed whatever fig leaf of protection from Russia the U.S. offered the post-Soviet republics and Moscow’s former allies in the Eastern bloc.
We can all agree that Millennials are the worst. But what is a Millennial? A fight between The New York Times and Slate inspired us to try and figure that out.
We can all agree that Millennials are the worst. But what is a Millennial? A fight between The New York Times and Slate inspired us to try and figure that out.
After the Times ran a column giving employers tips on how to deal with Millennials (for example, they need regular naps) (I didn't read the article; that's from my experience), Slate's Amanda Hess pointed out that the examples the Times used to demonstrate their points weren't actually Millennials. Some of the people quoted in the article were as old as 37, which was considered elderly only 5,000 short years ago.
The age of employees of The Wire, the humble website you are currently reading, varies widely, meaning that we too have in the past wondered where the boundaries for the various generations were drawn. Is a 37-year-old who gets text-message condolences from her friends a Millennial by virtue of her behavior? Or is she some other generation, because she was born super long ago? (Sorry, 37-year-old Rebecca Soffer who is a friend of a friend of mine and who I met once! You're not actually that old!) Since The Wire is committed to Broadening Human Understanding™, I decided to find out where generational boundaries are drawn.
The president took the DNC stage on Wednesday, showing why he will be his one-time rival's best advocate this fall.
Barack Obama needed to bring Democrats together tonight at the DNC. Tim Kaine had a far more difficult task: Hillary Clinton’s vice-presidential pick needed to prove he can be trusted, has the capacity to inspire, and can effectively take on Donald Trump.
In the end, Obama and Kaine both won raucous cheers and applause. At one point during the president’s speech, someone in the crowd cried out: “Four more years!” Another screamed: “I love you!” And despite earlier threats of revolt from Bernie Sanders supporters, Kaine made it through his speech without major incident. He came across as dedicated to the cause, and ready to fight, hitting high notes along the way. In all, the evening showed a party that seemed far more willing to come together than it did when the convention began.
Biology textbooks tell us that lichens are alliances between two organisms—a fungus and an alga. They are wrong.
In 1995, if you had told Toby Spribille that he’d eventually overthrow a scientific idea that’s been the stuff of textbooks for 150 years, he would have laughed at you. Back then, his life seemed constrained to a very different path. He was raised in a Montana trailer park, and home-schooled by what he now describes as a “fundamentalist cult.” At a young age, he fell in love with science, but had no way of feeding that love. He longed to break away from his roots and get a proper education.
At 19, he got a job at a local forestry service. Within a few years, he had earned enough to leave home. His meager savings and non-existent grades meant that no American university would take him, so Spribille looked to Europe.
Narcissism, disagreeableness, grandiosity—a psychologist investigates how Trump’s extraordinary personality might shape his possible presidency.
In 2006, Donald Trump made plans to purchase the Menie Estate, near Aberdeen, Scotland, aiming to convert the dunes and grassland into a luxury golf resort. He and the estate’s owner, Tom Griffin, sat down to discuss the transaction at the Cock & Bull restaurant. Griffin recalls that Trump was a hard-nosed negotiator, reluctant to give in on even the tiniest details. But, as Michael D’Antonio writes in his recent biography of Trump, Never Enough, Griffin’s most vivid recollection of the evening pertains to the theatrics. It was as if the golden-haired guest sitting across the table were an actor playing a part on the London stage.
“It was Donald Trump playing Donald Trump,” Griffin observed. There was something unreal about it.