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The problem with economics is that its trying to make sense of the single most dynamic, difficult problem ever contemplated. Its basically an attempt to model
by Mikeb85 12y ago
The problem with economics is that its trying to make sense of the single most dynamic, difficult problem ever contemplated. Its basically an attempt to model the entire world's behaviour.
There's 7 billion people in the world, we're all connected in various ways, and we all buy, sell, engage in work and other economic activities multiple times per day. Oh and nothings reproducible, so good luck trying to recreate experiments.
That's one huge model to attempt to simulate.
And if any programmer/engineer thinks they're smarter than the people currently working on these problems, I'm sure some hedge fund will pay you millions to 'solve' the problem of modeling economics.
- arca_vorago 12y agoAs a matter of fact, it's something I've thought about (large model economic et al simulation) for quite some time. It was only recently after my work with "big data" in a genetics lab that I think it might actually be doable. I also think part of the problem is that it's the blood-sucking octopus entities that pay all the money normally for such development and then use it to sharpen their fangs on the public.