What are "stylized facts" but just a narrative with numbers

 

Economists will often talk about "stylized facts"; some tables, figures, and charts that provide general information about a topic without detailed econometrics. Many authors view that stylized facts are dispassionate and do not have embedded value judgements. Stylized facts are just part of a broader narrative. 

These facts just extend or support a story and are a rhetorical device to convince an audience of an opinion. There are no opinion-less stylized facts. There are no such things as just facts. These facts are only arguments for a story. Nonetheless, all econometric analysis supports a story and is a narrative device to further the argument of the author. 

Jan Tinbergen is believed to be the originator of the use of stylized facts - "To get a clear view, stylization is indispensable. The many phenomena must be grouped in such a way that the picture becomes clear, yet without losing its characteristic traits. Of course, every stylization is a hazardous venture. The art of the social economist's work lies in this stylization. Some stylizations have been unwieldy, others have been unrealistic. But stylization is essential. The alternative is barrenness."

Nicolas Kaldor furthered the view of stylized facts, "Facts as recorded by statisticians, are always subject to numerous snags and qualifications, and for that reason are incapable of being summarized", but theorists "should be free to start off with a stylized view of the facts – i.e., concentrate on broad tendencies, ignoring individual detail."

Robert Solow takes the counter view and is more suspect of stylized facts, "There is no doubt that they are stylized, though it is possible to question whether they are facts". Always think of Solow sitting on your shoulder when looking at facts in an argument.

There is nothing wrong with the use of facts to support a narrative except when the author pretends to view the facts as being neutral and not a critical part of his story. Facts can be just facts, but they are not neutral when used in a narrative.