How To Find What's True Part 2
In part two of how to find truth in information (How To Discover Truth In Information Part 2), we look at an applied example of finding truth in information involving the Texas drought. Since I've started measuring water prices using ceteris paribus measuring techniques, the price of water has risen from $0.49 to $0.93. By contrast, even though a drought comes with devastating effects for the economy, it receives little - if any attention - in a 24 hour news cycle. In addition, people who come from other parts of the world to talk about flooding in Texas for their news stations demonstrate how little they know about Texas, as infrequent flooding helps us offset the loss of water during droughts.
All information is not equal, nor true. Information discussing "disastrous" flooding in Texas is actually misinforming people, as these occasional floods help restore the water balance in Texas. A degree in journalism, or in general, does not make anyone an expert in an area, therefore, it becomes very easy to misinform people with information. Unlike journalists, we look at some possible solutions for the Texas drought with the note that none of these will be done to prevent the drought problem anytime soon.
The full series:
How To Discover Truth In Information Part 1
How To Discover Truth In Information Part 2
How To Discover Truth In Information Part 3
How To Discover Truth In Information Part 4
Any video after part four of how to find truth in information shows an applied example of discovering the truth.
If you're interested data to discover the truth, I teach the course Automating ETL, which teaches you how to get data easily so that you can quick analyze data in meaningful ways. Don't mistake data for truth though. Being able to analyze data doesn't mean you've discovered truth and your data could be wrong and mislead you. Just like the journalists who see a lot of rain and flooding and declare there's a problem, you can easily get a lot of data and come to wrong conclusions.