Pater Familias

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DISCUSSING RECESSION IN TERMS OF PROBABILITIES.

January 23, 2008 at 11:45 AM · Economics

DISCUSSING RECESSION IN TERMS OF PROBABILITIES. About a year ago, I argued here that it would be useful to use probabilities to discuss foreign intelligence, just as we have over the last forty years gotten used to using probabilities in discussing the weather. Recession is an unfortunate possibility, but I am pleased that people are using probabilities to talk about it.

4 comments

Dick Weisfelder January 23, 2008 at 2:05 PM

Probablities have long been a key element embodied in the phrase “intelligence estimates.”

Philip January 23, 2008 at 8:34 PM

But not in the public discussion of intelligence.

Dick Weisfelder January 24, 2008 at 10:17 PM

The public generally manifests less interest in and knowledge about foreign and national security policy than any domestic issue area. The attentive public is small, exagerating the influence of agenda setting groups like the Heritage Foundation, the American Council on Foreign Relations, Brookings, etc. When I put numbers on a world outline map at the beginning of last term (yes 2007!), half the class missed Iraq, 80% Afghanistan and one benighted soul identified India as Italy and Venezuela as Vietnam. (I guess getting the first letter right is a beginning!)

Mary Jane Schaefer January 28, 2008 at 5:04 PM

There she is: Miss America!