Life is Complicated, SO DON’T LEAVE OUT VARIABLES!

Economists have a term for when important variables are left out of an analysis: OMITTED VARIABLE BIAS.

Solutions that result from such analyses are bound to fail because they leave out crucial pieces of information. One of the most famous examples of this is the “Gender Pay Gap,” but there are many more, unfortunately.

Life is complicated. Don’t leave out variables just because it’s politically expedient.

You can pray that the Gender Pay Gap is real in one hand...and you know what in the other and see which one gets filled first.

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