Poverty and Progress: Realities and Myths about Global Poverty by Deepak Lal

Author:Deepak Lal [Lal, Deepak]
Language: eng
Format: epub
Publisher: Cato Institute
Published: 0101-01-01T00:00:00+00:00

Conclusion

There is no better conclusion for this and the former chapter than Bauer’s (1987/2009, 175) indictment of these hoary old theories now clothed in the latest mathematical and econometric garb. In his splendid essay “The Disregard of Reality,” he wrote:

Mathematical methods often provide an effective façade or screen which covers or conceals empty formalism. They can camouflage disregard of basic propositions or simple evidence in models purporting to serve as basis for policy. Statistics, technical jargon, and sophisticated econometric techniques can also serve as a protective screen, but the use of mathematics is particularly effective because of the language barrier it provides. What we see is an inversion of the familiar Hans Andersen story of the Emperor’s New Clothes. Here there “are” new clothes, and at times they are haute couture. But all too often there is no Emperor within.

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