The troubling litany is by now familiar: Failures of replication. Inadequate peer review. Fraud. Publication bias. Conflicts of interest. Limited funding. Flawed statistics. Perverse incentives. Each of these concerns has been pointed to as a cause of the current crisis in science. Yet none of these is novel; they have all previously been acknowledged by scientists and criticized by science watchers. Accordingly, we should not only ask why science is going through its current moment of self-examination, but also why science is going through it now. To some extent, the change has to do with the nature of scientific research itself. Scientific claims are supposed to be justified by their reliance on observable and repeatable events, providing methods and conclusions that can be (and are) vetted by expert peers. And yet science seems increasingly to make what are tantamount to appeals to authority: the measurements of scientific phenomena are often far removed from direct sensory observations, studies often require materials or instruments that are not widely available, and chains of inference from data to theory have become ever longer and more subtle. All this adds up to a feeling of (to borrow a phrase familiar to parents of young children) “because I said so.” In a way, these are not new developments; modern science has always been somewhat abstruse and distant and complicated. But with the proliferation of subspecialties in subfields, this problem seems to be worsening.
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False information causes harm, threatening individuals, groups, and society. Many people struggle to judge the veracity of the information around them...
This article examines the impact of Greece retroactively, via legislation, changing the terms in hundreds of billions of euros worth of Greek...
Income inequality is a national preoccupation, and the public’s imagination is captured by the astronomical incomes of Valley tech billionaires and...
There is a live debate going on over whether antitrust should take a broader view of the economics of market concentration. When antitrust reformers...
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The SEC mandates that public companies assess new information that changes the risks that they face and disclose these if there has been a “material”...
Countries hit by unexpected crises often look to their overseas diasporas for assistance. Some countries have tapped into this generosity of their...
The conventional view is that standardized boilerplate terms represent an optimal contractual solution to the contracting problems facing parties in...
Consequential damages have been a cornerstone of contract doctrine since the broken crankshaft in Hadley v. Baxendale. And the Hadley rule is one of...
In this article, we examine the relations between risk, the choice of foreign or local contract terms (parameters), and maturity in the sovereign debt...
Both theorists and courts commonly assume that high-dollar financial contracts between sophisticated parties are free of linguistic errors...
Courts routinely use low cash bail as a financial incentive to ensure that released defendants appear in court and abstain from crime. This can create...
Scores of lawsuits have pushed retirement plan sponsors to shorter, easier-to-navigate menus, but – as Ian Ayres and Quinn Curtis argue in this work –...