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...Over the past 230 years, the definition of economics has changed from topic to method. While economics was originally defined by the task of running a government and then the understanding of formal markets, the field has come to define itself by a scientific approach to human society. This method starts with formal models of decision-making agents and exposes these models to statistical tests. In that sense, the methodological heart of economics does not distinguish it from any other field that believes in the value of applying the scientific method to mankind...

Author: By Edward L. Glaeser | Title: Methodology Matters | 11/14/2006 | See Source »

...Task Force’s turn against methodology may reflect a dissatisfaction with the Core, which, as I am urging, vaunted methods over facts. The Core’s approach to methodology, however, teaches methods via intensive exploration of a single, sometimes narrow topic. The scientific method’s general applicability, however, can be best taught by applying it in a wide range of settings. The Task Force’s emphasis on broader courses that teach a wide range of facts is a step in the right direction, especially if those facts serve to teach the scientific method...

Author: By Edward L. Glaeser | Title: Methodology Matters | 11/14/2006 | See Source »

...time when museums are generally priced out of auctions for top works of art, that donation method, known as fractional giving, has been responsible for a substantial portion of the 80% of pieces that come through private donors. "It's a win-win situation," says Stephen Clark, deputy general counsel for the Museum of Modern Art in New York City, where roughly 650 works of art have been acquired via fractional giving, with about 650 more on the way--including Henri Matisse's Plum Blossoms. "It encourages art collectors to give because they get a tax benefit, but it also...

Author: /time Magazine | Title: Portrait of a Bull Market | 11/13/2006 | See Source »

Edwards isn’t the first to discover a new way to guard against TB—two French scientists developed the so-called BCG vaccine to fight the disease in the early 1920s. But the present-day BCG method is far from ideal. It requires injecting needles into infants—a risky endeavor in areas where clean needles are hard to find, and where reusing old ones can spread HIV. Moreover, the BCG vaccine must be stored at cool temperatures, complicating its distribution to remote areas...

Author: By Nicholas M. Ciarelli and Daniel J. T. Schuker, CRIMSON STAFF WRITERSS | Title: A New Deal On Lifesaving Drugs | 11/13/2006 | See Source »

Edwards’ spray solves many of the problems with the current BCG method. It doesn’t require needles—thus eliminating the HIV risk—and may also prove more effective than injecting needles under the skin. The spray immunizes directly through the lungs, which is the route of infection for TB. The new method may also depend less on refrigeration...

Author: By Nicholas M. Ciarelli and Daniel J. T. Schuker, CRIMSON STAFF WRITERSS | Title: A New Deal On Lifesaving Drugs | 11/13/2006 | See Source »

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