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Abstract
Over the last two decades, new tools in the analysis of molecular phylogenies have
enabled study of the diversification dynamics of living clades in the absence of information
about extinct lineages. However, computer simulations and the fossil record show that
the inability to access extinct lineages severely limits the inferences that can be
drawn from molecular phylogenies. It appears that molecular phylogenies can tell us
only when there have been changes in diversification rates, but are blind to the true
diversity trajectories and rates of origination and extinction that have led to the
species that are alive today. We need to embrace the fossil record if we want to fully
understand the diversity dynamics of the living biota.