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I think you're a bit burnt out from physics, thus this rather cynical view of physicists' approach to an important economic problem. The mathematical models yo
by deehouie 7y ago
I think you're a bit burnt out from physics, thus this rather cynical view of physicists' approach to an important economic problem.
The mathematical models you find in the works of many highly regarded economists are even more simplistic, more vulnerable to criticism.
"When you have such hubris and make such simple mistakes..." that pronoun "you" should be the economists!
- zamfi 7y agoThat economists make mistakes, and that even well-regarded economists espouse simplistic models, is not evidence that physicists might be any better at it.
- Mikeb85 7y agoEconomic models are simplified in such a way to describe causality and relationships between variables but aren't actually expected to work 1:1 with real world numbers. That's why econometrics is a thing, that's why most economists nowadays are taught statistics, computer programming, advanced maths, etc... It's why there's a different process used to describe why things happen in a paper vs. predicting real world numbers.