How to Spot the Lie Behind Sen. Warren's Econ Statistics

There are few semi-academic lines more famous than, “There are lies, damned lies, and statistics.” It is certainly true that statistics give a sheen of legitimacy to claims that often make it easier to mislead people. This seems to be especially true of economic statistics. This column will review some of the most common ways people use economic statistics to mislead people and falsely support weak or incorrect arguments. Hopefully, this will make it easier for you to spot such bad use of economic statistics and learn how to defeat arguments based on such economic falsehoods and distortions.