Money and Finance
The Truth Wears Off – By Jonah Lehrer
This article was mentioned in the book The Creative Destruction of Medicine. The book also mentioned the article “Why Most Published Research Findings Are False”, which Peter Bevelin brought up in my 2009 interview with him.
Before the effectiveness of a drug can be confirmed, it must be tested and tested again. Different scientists in different labs need to repeat the protocols and publish their results. The test of replicability, as it’s known, is the foundation of modern research. Replicability is how the community enforces itself. It’s a safeguard for the creep of subjectivity. Most of the time, scientists know what results they want, and that can influence the results they get. The premise of replicability is that the scientific community can correct for these flaws.
But now all sorts of well-established, multiply confirmed findings have started to look increasingly uncertain. It’s as if our facts were losing their truth: claims that have been enshrined in textbooks are suddenly unprovable. This phenomenon doesn’t yet have an official name, but it’s occurring across a wide range of fields, from psychology to ecology. In the field of medicine, the phenomenon seems extremely widespread, affecting not only antipsychotics but also therapies ranging from cardiac stents to Vitamin E and antidepressants: Davis has a forthcoming analysis demonstrating that the efficacy of antidepressants has gone down as much as threefold in recent decades.
For many scientists, the effect is especially troubling because of what it exposes about the scientific process. If replication is what separates the rigor of science from the squishiness of pseudoscience, where do we put all these rigorously validated findings that can no longer be proved? Which results should we believe? Francis Bacon, the early-modern philosopher and pioneer of the scientific method, once declared that experiments were essential, because they allowed us to “put nature to the question.” But it appears that nature often gives us different answers.
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Related article: Lies, Damned Lies, and Medical Science
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Links
Horizon Kinetics - Under the Hood: What’s in Your Index? (LINK) The ETF Flash Crash (LINK) Stock Halts Added to Monday’s Market Chaos [H/T Matt] (LINK) Many Psychology Findings Not as Strong as Claimed, Study Says (LINK) Related link [mentioned by...
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Links
Elizabeth Holmes on Charlie Rose (video) (LINK) [And the video of her May commencement speech at Pepperdine which is mentioned in the interview, is HERE. "Success is not a result of spontaneous combustion. You must set yourself on fire."] Richard...
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Eric Topol On Econtalk
Eric Topol of the Scripps Research Institute and the author of The Creative Destruction of Medicine talks with EconTalk host Russ Roberts about the ideas in his book. Topics discussed include "evidence-based" medicine, the influence of the pharmaceutical...
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The Manhattan Project To End Fad Diets – By Tim Ferriss
Today, a dream of mine came true. Imagine what could be done if we had an X-men-like group of the world’s best scientists, independently funded and uninfluenced by industry, tackling the most important questions in nutrition? Starting today, we have...
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It’s A Matter Of Reading And Asking Questions
A QUESTION Warren Buffett and Charlie Munger are often asked is: how do you learn to be a great investor? - “First of all,” says Charlie Munger, “you have to understand your own nature. Each person has to play the game given his own marginal utility...
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