- Historic Sites
Lies, Damned Lies, And The Dow
Statistics help us comprehend the world—sometimes
July/August 1999 | Volume 50, Issue 4
The history of the Dow Jones and Cox and Alm’s book both demonstrate beyond doubt that statistics are not windows into worlds we cannot see, but only shadows of those worlds. To change metaphors abruptly and borrow a marvelous phrase I believe is from William F. Buckley, Jr., we must be careful not to build cathedrals around them.