Stephen Ziliak

Quick Facts

Full Name	Stephen Ziliak
Occupation	Economist
Date Of Birth	Oct 17, 1963(1963-10-17)
Age	61
Country	United States
Horoscope	Libra

Stephen Ziliak Biography

Stephen Ziliak is one of the most popular and richest Economist who was born on October 17, 1963 in United States.

His work showing the history and power of balanced over randomized controlled trials, rival techniques which Ziliak traces back to the early 1900s and the Guinness Brewery in Dublin, has been noted by Tim Harford, Casey Mulligan, and others for its deep challenge to randomized field experiments after John List, Steve Levitt, Esther Duflo, and others. In July 2008 Ziliak was invited by the International Biometric Society and the Irish Statistical Association to present his work in Dublin on “Guinnessometrics: The Economic Foundation of Student’s t,” in celebration of the 100th anniversary of W.S. Gosset’s aka “Student’s” t-distribution and test. Standing on stage with Sir David Cox and Stephen Senn, the biostatistician and president of the American Statistical Association Chicago Chapter Borko Jovanovic quipped that Ziliak “looked, at first, like a little kid walking around the British Museum. Then he began to speak, which he could probably do for two weeks straight”. In 2010 Ziliak and British statistician Stephen Senn exchanged views in The Lancet.

Stephen T. Ziliak (born October 17, 1963) is an American professor of economics whose research and essays span disciplines from statistics and beer brewing to medicine and poetry. He is currently a faculty member of the Angiogenesis Foundation, conjoint professor of business and law at the University of Newcastle in Australia, and professor of economics at Roosevelt University in Chicago, IL. He previously taught for the Georgia Institute of Technology, Emory University, and Bowling Green State University. Much of his work has focused on welfare and poverty, rhetoric, public policy, and the history and philosophy of science and statistics. Most known for his works in the field of statistical significance, Ziliak gained notoriety from his 1996 article, “The Standard Error of Regressions”, from a sequel study in 2004 called “Size Matters”, and for his University of Michigan Press best-selling and critically acclaimed book The Cult of Statistical Significance: How the Standard Error Costs Us Jobs, Justice, and Lives (2008) all coauthored with Deirdre McCloskey.

Stephen Ziliak Net Worth

Stephen Ziliak is one of the richest Economist from United States. According to our analysis, Wikipedia, Forbes & Business Insider, Stephen Ziliak 's net worth $5 Million. (Last Update: December 11, 2023)

Ziliak’s current projects include Guinnessometrics, that is, a wholesale rethinking of experimental philosophy and econometric practice after William S. Gosset (1876-1937) aka “Student”, the inventor of “Student’s” t and celebrated Head Brewer of Guinness. Ziliak’s Guinnessometrics was twice featured on BBC Radio 4’s “More or Less” program, hosted by Tim Harford, and later in many other media such as The Wall Street Journal Europe, Financial Times, Salon and The Washington Post. Guinnessometrics argues that randomization plus statistical significance does not equal validity. Validity is proven by other means, including deliberately balanced and stratified experiments, small series of independent and repeated samples controlling for real not merely random error, and an economic approach to the logic of uncertainty.

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Ziliak’s historical research on previous attempts to privatize welfare for the poor has questioned the virtue-ethical philosophies of Victorians, Old and New, from Herbert Spencer to Gertrude Himmelfarb. In The Bourgeois Virtues (2006, xviii) his former dissertation adviser and long-time coauthor Deirdre N. McCloskey thanks Ziliak (together with Arjo Klamer and Helen McCloskey, Deirdre’s mother) for “disagreeing with me about the bourgeois virtues”. The Cult of Statistical Significance drew attention to the ethics of statistical significance testing and the frequently large yet neglected consequences for human and other life when the test is misused and misinterpreted as Ziliak and McCloskey have documented it frequently is. Haiku economics is fundamentally an attempt to bring feelings and individual experience back inside the dismal science. In his 2011 essay on “Haiku Economics,” published in Poetry magazine, Ziliak noted the influence of Adam Smith’s The Theory of Moral Sentiments and John Stuart Mill’s Autobiography. More recently, In a series of papers comparing Gosset’s deliberately balanced experimental designs with Fisher’s randomized, Ziliak argues that most randomized controlled trials lack both ethical and economic justification. His paper “The Unprincipled Randomization Principle in Economics and Medicine” (with Edward Teather-Posadas), published in the Oxford Handbook of Professional Economic Ethics (2015), argues that most randomized controlled trials (RCTs) fail every ethical code, from Smith’s “impartial spectator” and Pareto efficiency to Rawls’s difference principle, except possibly “vulgar utilitarianism” (p. 436), an “ethic” which even most economists reject.

Facts & Trivia

Michael Ranked on the list of most popular Economist. Also ranked in the elit list of famous people born in United States. Stephen Ziliak celebrates birthday on October 17 of every year.

His book, The Cult of Statistical Significance: How the Standard Error Costs Us Jobs, Justice, and Lives (2008) challenges the history, philosophy, and practice of all the testing sciences, from economics to medicine, and has been widely reviewed in journals and the media. It was the beer-brewing Gosset aka “Student”, Ziliak discovered in the archives, not the biologist R. A. Fisher, who provided the firmer foundation for modern statistics, decisions, and experimental design. The book featured in a 2011 U.S. Supreme Court case, Matrixx Initiatives v. Siracusano et al., wherein the justices unanimously decided against using statistical significance as a standard for adverse event reporting in U.S. securities law. Ziliak and McCloskey were invited to submit to the court a brief of amici curiae (“friends of the court”) wherein they explain the most important differences between economic, legal, and human significance versus mere statistical significance. Ziliak wrote about the case for Significance magazine, inspiring published letters from A.W.F. Edwards and Dennis Lindley, who later befriended Ziliak in correspondence over W.S. Gosset and R.A. Fisher.