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Asad Zaman
Asad Zaman

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6 days ago

Economic Theories: Cause of Crises?

The Global Financial Crisis of 2007 caused misery for millions, and the Great Recession that followed created the greatest economic hardships since World War II. It is natural to turn to economists for explanations and solutions. The Queen of England went to London School of Economics to ask “Why did…

Economics

11 min read

Economic Theories: Cause of Crises?
Economic Theories: Cause of Crises?

Aug 8

How Power Shapes Our Thoughts

What is taught to unsuspecting students as truth about the world we live in, is really propaganda to justify the enormous wealth of the rich 0.01%, and the correspondingly amazing amount of poverty among the bottom billions Abstract: It is widely believed that human knowledge represents valuable information about the…

Knowledge Power

15 min read

How Power Shapes Our Thoughts
How Power Shapes Our Thoughts

Jun 16

Real Statistics: A Radical Approach

This is an announcement of an upcoming course (online/live), meant to supplant and replace the conventional approach to statistics. The current approach was developed in early 20th century on the basis of logical positivist foundations. Logical Positivist philosophy has proven to be defective and rejected. However, the necessary rethinking of…

Statistics

11 min read

Real Statistics: A Radical Approach
Real Statistics: A Radical Approach

Nov 23, 2021

Causality as Child’s Play

Study of causality confronts us with a huge dilemma. Intense controversy has raged for centuries over this topic among the philosophers. At the same time, studies of child development show that infants learn about causal concepts almost from birth, and toddlers have a sophisticated approach to causality. How can causality…

Causality

16 min read

Causality as Child’s Play
Causality as Child’s Play

Mar 26, 2021

The Puzzle of Western Social Science

(To Appear in Academia Letters, 2021) Abstract: The term “science” represents a claim to universality, but modern social science is based on lessons from European historical experience. Why, then, does it claim to have universal application? …

Social Science

8 min read


Jan 21, 2021

Marylin Vos Savant & the Goats: A New Look

Introduction: In a previous lecture, we gave a New Definition of Probability. In this lecture, we will show how this definition enables us to resolve the massive amount of controversy which surrounds an apparently simple probability puzzle, known as the Monty-Hall problem. The book The Power of Logical Thinking, quotes…

7 min read

Marylin Vos Savant & the Goats: A New Look
Marylin Vos Savant & the Goats: A New Look

Jan 14, 2021

A New Definition of Probability

A huge part of the intellectual journey in my life has involved freeing myself from the positivist blinders that were part of our university education. The empiricist philosophy emerges from the rejection of God, and goes on to the rejection of all unobservables. This has created huge problems in understanding…

Probability

12 min read

A New Definition of Probability
A New Definition of Probability

Dec 21, 2020

Economics as Moral Philosophy

Among the many dimensions I have listed in “New Directions in Macroeconomics”, the most important is the moral dimension. If we take Adam Smith as the founder, economics was born as a branch of moral philosophy. However, modern economists claim that the subject is purely positive and scientific, and makes…

5 min read

Economics as Moral Philosophy
Economics as Moral Philosophy

Dec 19, 2020

Causes of the Global Financial Crisis 2007

This is a review and a summary of some of the key arguments presented by Mian and Sufi in their recent book “House of Debt.” It highlights the contribution of Mian and Sufi by showing how they have solved the mystery of why there was a huge drop in aggregate…

Finance

15 min read

Causes of the Global Financial Crisis 2007
Causes of the Global Financial Crisis 2007

Sep 23, 2020

1-Simpson’s Paradox: Berkeley Admissions

There has been a revolution in terms of understanding causal inference, launched by Judea Pearl and associates, and based on a graph-theoretic approach. As Pearl, Glymour, and Jewell (2016. Causal Inference: A Primer) state: “More has been learned about causal inference in the last few decades than the sum total…

Simpsons Paradox

5 min read

1-Simpson’s Paradox: Berkeley Admissions
1-Simpson’s Paradox: Berkeley Admissions
Asad Zaman

Asad Zaman

BS Math MIT 74, MS Stat 76 & Ph.D. Econ 78 Stanford

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