a political BLS will bias inflation low because a) it makes the admin look better & b) makes the fed lower rates.
a side effect of CPI biasing low tho is TIPs and social security will pay out less than true inflation -- a soft default by the US to pensioners and bondholders
@nkreu113r sure, the formally correct version is useful in many contexts, like solidifying your knowledge, or advanced pure math
teachers often bias towards the elegant compact formal version more than they should, because that's the way the teachers *now* understand the topic
bad pedagogy "teaches" a subject to people who already know it. high in formalism, low in intuition & motivation, and starts with the elegant but complex stuff. almost a way for knowers to show off. wikipedia is full of it.
good pedagogy uses lots of easy terms a student already understands, and tends to be formally imperfect (or even wrong)
chain of thought in LLMs improves quality in exactly the same way that writing ideas down improves quality in humans
brains naturally think impulsively verbally
writing lets us catch inconsistencies and refine those impulsive thoughts
@drvolts the funny thing is that this is the same guy who said "you can say whatever you want, no one's going to hold you accountable later on" -- turns out wrong on the meta level too via being wrong on the object level
1) simple writing from a writer who *can* use sophisticated words well, but chooses carefully not to > 2) flowery words chosen in a mediocre way > 3) simple writing from a writer with poor vocab
the phrase "simple writing" confounds 1) with 3)
learners progress from 3) to 2) to 1), so from the point of 1s, 2s are inexpert, and rightly so.
but that opinion can be misread as discouraging learning or practicing complex vocab, which is wrong!
by using overly flowery language and rejecting it is how you get to 1)
@DsrPrivate also the "popular story" is always that the Fed needs to be independent or else in election years the President would command it to lower rates in election years -- this seems to imply lower rates is the vote-goosing play?
@DsrPrivate searching google scholar, it seems inflation also matters. though i always thought unemployment was the bigger factor because it lead to a lot of concentrated disgruntled people
From Google Scholar "The Economic Vote" by Duch & Stevenson: