Re:Why Free Markets Make Fools of Us
by TeMPOraL on Thursday October 08, 2015 @04:23PM
(#10355904)
> So far no one has been able to meaningfully apply mathematics to economics, or we would have computers that can simulate markets like we can simulate tornadoes.
That only proves those problems are incredibly hard - and require incredible resources and work to think about in a formal, precise way. It's also worth noting that you are therefore no more likely to be a good economist by guessing and waving hands than you're likely to be a good meteorologist by spinning make-believe stories about which way the weather should be. Failure to understand the meaning of this point is a source of tremendous amount of stupid decisions and pointless politics.
Also, don't confuse logic with math. The former is just a subset.
That only proves those problems are incredibly hard - and require incredible resources and work to think about in a formal, precise way. It's also worth noting that you are therefore no more likely to be a good economist by guessing and waving hands than you're likely to be a good meteorologist by spinning make-believe stories about which way the weather should be. Failure to understand the meaning of this point is a source of tremendous amount of stupid decisions and pointless politics.
Also, don't confuse logic with math. The former is just a subset.