the official site of Michael Shermer

How would the average investor know that
Bernie Madoff was running a Ponzi scheme?

Here’s a supreme irony for you. About six months ago a colleague of mine named Stephen Greenspan, a psychiatry professor at the University of Colorado, sent me a book manuscript to review and blurb for him (a blurb is one of those back jacket endorsements from someone who hopefully knows something about the subject of the book). Greenspan’s book is called Annals of Gullibility (Praeger, 2009, due out in January), and it includes chapters on gullibility in literature and folktales (Pinocchio, Gulliver), in religion (end-of-the-world predictions), in war and politics (the Trojan Horse), in criminal justice (child witnesses), in science (cold fusion), and in finance (Ponzi schemes). It’s a great read and an excellent reference source that, as I wrote in my blurb, “belongs on the bookshelves of skeptics and scientists, not to mention politicians and policy analysts, especially before they go to war.”

Broad-mindedness is a virtue when investigating extraordinary claims, but often they turn out to be pure bunk

Those of us who practice skepticism for a living often find ourselves tiptoeing politely around the PC police, who think that all beliefs and opinions are equal. Thus, when asked, “Are you a debunker?” my initial instinct is to dissemble and mutter something about being an investigator, as if that will soften the blow.

But what need, really, is there to assuage? According to the Oxford English Dictionary, to debunk is to “remove the nonsense from; to expose false claims or pretensions.” Bunk is slang for “humbug,” and bunkum is “empty claptrap oratory.” Here is some bunk that merits no brook. (continue reading…)