The problem with economics is that, at best, it can offer an interesting theory of what an economy populated by algorithms will look like. – Yanis Varoufakis
One of the few advantages of the Global Financial Crisis is that it opened a profound debate about Economics. As a software engineer, I must say I share some of the dislike for the dismal science, as it seems far removed from the Popperian principles we hold dear. However, people like Varoufakis force me to keep my mind open due to their refreshing way of looking at things. In this sentence he strikes at the heart of the greatest risk with models: one can stare at the model for so long as to confuse it with reality. This is something that, unfortunately, computer scientists are not immune to. Falsifiability should always be in the back of our minds.
Date: 2012-06-06 11:27:13 BST
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