“Expect multiple meanings”, or meaning….

Dan Klein:

That is from The Constitution of Liberty, specifically, the epilogue. Now it’s proven that Hayek was right and the others wrong.

There is a lot of talk about how ‘big data’ is going to make miracles and answer big questions. When a lot of interpretation and judgment is involved in utilizing the data, the touting of ‘big data’ is hooey.

When interpretation and judgment are simple and straightforward, however, big data are powerful. The Google Ngram Viewer is simply counting and percentages. There is no statistical manipulation on my part. Because we can speak so plainly of the data, we say “the data speak for themselves.” Here again is the slide from above: