Bold blog challenges the political pundits
If Nate Silver's prediction of an Obama victory proves to be correct, the media's rule book will need to be rewritten.
That's the phrase Nate Silver of The New York Times' 538 blog used to describe the contest between Barack Obama and Mitt Romney, and it's on the money largely because of him.
By the way, Merriam-Webster defines "epistemology" as "the study or a theory of the nature and grounds of knowledge especially with reference to its limits and validity." (Don't feel bad if you didn't know the word, because I had to look it up, too. )
What sets Silver apart from his rivals is that he has been predicting an Obama victory since June because of a complicated mathematical analysis of polling data. Silver's view has been consistent even after Obama's poor performance in the Denver debate. The statistician's latest prediction estimates Obama's chances of winning re-election at 86%, near his highs for the year.
Silver started 538 -- named after the number of presidential electors -- because he despises the horse-race coverage of politics, arguing that it lacks intellectual rigor. During the presidential debates, reporters and pundits become theater critics, talking about how the candidates perform. During the campaign, there is plenty of talk of "momentum" and other vague scientific-sounding terms. It's largely nonsense.
"I think I get a lot of grief because I frustrate narratives that are told by pundits and journalists that don't have a lot of grounding in objective reality," Silver recently told Charlie Rose.
If Sllver is proved right, all that blather goes out the window, and if I were a political journalist or pundit, I would be scared to death. The chattering classes earn a nice living because people assume that they have keen insights on the political process based on their inside information. Silver is basing his conclusions on publicly available information. In essence, he is telling the media elite that they aren't so special.
Of course, Silver has plenty of detractors. Political scientists at the University of Colorado are trumpeting an election forecasting model that they say points to a Romney victory. They are as confident in their views as Silver is in his. Plenty of Republicans are coming on cable news confidently predicting that Obama will be a one-term president. MSNBC's Joe Scarborough even bet Silver that Romney will win. Sliver took the co-host of "Morning Joe" up on his offer.
But even if Silver's call is wrong, which I don't think it is, he has rewritten the rule book for political journalism. Voters will be better off because of it.
Follow Jonathan Berr on Twitter@jdberr.
RELATED ARTICLES
DATA PROVIDERS
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.
LATEST POSTS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
VIDEO ON MSN MONEY
RECENT QUOTES
WATCHLIST
MARKET UPDATE
| NAME | LAST | CHANGE | % CHANGE | |
|---|---|---|---|---|
| There’s a problem getting this information right now. Please try again later. | ||||
[BRIEFING.COM] The S&P 500 ended this week with a bang, roaring to a new all-time high on the back of stronger-than-expected economic data, influential leadership, and an ongoing appreciation for the Fed's monetary policy support.
The bullish bias was evident in premarket action as the S&P futures pointed to a higher start without the benefit of any definitive news catalyst. Stocks indeed benefited from a blast of buying interest at the opening bell on this ... More
More Market News
Currencies
| NAME | LAST | CHANGE | % CHANGE |
|---|---|---|---|
| There’s a problem getting this information right now. Please try again later. | |||



