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Don't worry, economists surely have their calculation of the day. Previously it was ordinary differential equations. Now attempting to solve these is intractab
by AstralStorm 1y ago
Don't worry, economists surely have their calculation of the day.
Previously it was ordinary differential equations. Now attempting to solve these is intractable for such a big and complex system so far, and worse if you misrepresented the model or approximated ot too much.
So essentially all the theories with an equation are a guess.
Doubly so for theories without an equation that are not tied to experimental data... (Hello Austrians)