Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: query

[Brad De Long <delong@xxxxxxxxxxxxxxxxx>]

> > > Brad says:
> > > > But that's why I like it. You don't have to pre-wash the plates,
> > > > and it gets them *clean*.
> > >
> > > I heard an expert on this subject speaking on US National Public
> > > Radio (one of their consumer-oriented shows). She said
> > > unequivocally that the makers of dishwashers who claim that their
> > > products can clean dishes that haven't already been washed by hand
> > > are _lying_.
> >
> > Brad DeLong <looks down at dish newly taken from dishwasher>: "It
> > looks clean."
>
> talk to your colleague Tom Rothenberg and see if he can do
> econometrics with your sample size. (Oh, I forgot that he never
> actually does econometrics even though -- or because -- he
> understands it so well.)
>
> Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine

We can do econometrics: the point estimate is that it gets the dishes
clean; the standard error of that point estimate is infinite...
--

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --
"Now 'in the long run' this [way of summarizing the quantity theory
of money] is probably true.... But this long run is a misleading
guide to current affairs. **In the long run** we are all dead.
Economists set themselves too easy, too useless a task if in
tempestuous seasons they can only tell us that when the storm is long
past the ocean is flat again."

--J.M. Keynes
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --
J. Bradford De Long; Professor of Economics, U.C. Berkeley;
Co-Editor, Journal of Economic Perspectives.
Dept. of Economics, U.C. Berkeley, #3880
Berkeley, CA 94720-3880
(510) 643-4027; (925) 283-2709 phones
(510) 642-6615; (925) 283-3897 faxes
http://econ161.berkeley.edu/
<delong@xxxxxxxxxxxxxxxxx>