Word: crucial
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Harvard baseball took its season down to the wire with its last day of conference competition determining final positioning, but crucial losses ultimately kept it out of postseason play...
...body as small as the Corporation, the identity of its members are crucial to its direction. Lee’s entrance marks a moment of transition not only for the Corporation’s internal dynamic, but also for its relationship to the broader University...
...hunger for nobility endangers everyday morality—because the latter is expected. What does it matter that you held the door open for a stranger? It’s not out of the ordinary. Or, at least, it wasn’t. Today, we act like the crucial tests come with the big things. Did you give up a lucrative job to help starving kids in Haiti? Did you take a stand against your government? Did you die in the line of duty? But the crucial tests come more often—in fact, they come everyday. Those common...
...certain misguided financiers. But to suggest that the entire profession of economics engages in an extreme kind of wishful thinking, or worse, deception, is grossly unfair and misleading. Cobb-Douglas will not predict economic growth in the way that Newton’s Laws describe motion, but it generates crucial insights into economic phenomena and is a powerful tool in understanding the principles underlying economic relationships...
...author wants to draw the wrong conclusion from the fact that simplified models get things wrong (even dramatically wrong). No one denies that we need to better understand and communicate the limitations of data, that it is crucial to guard against unjustified trust in our preferred models (perhaps the author forgets that before the crisis, there were plenty of critics of the efficient market hypothesis who were using data and simulation to predict pathological behavior in asset markets). But a data-driven, formal approach to making policy decisions is quite frankly the best we can do and therefore essential...