🔗 Goodhart's Law

🔗 Economics 🔗 Statistics 🔗 Business 🔗 Politics

Goodhart's law is an adage named after economist Charles Goodhart, which has been phrased by Marilyn Strathern as "When a measure becomes a target, it ceases to be a good measure." One way in which this can occur is individuals trying to anticipate the effect of a policy and then taking actions that alter its outcome.