Thursday, November 29, 2012

Cracking or fracking

Rick has a post titled: A Crack in the Foundations of Economics. Essentially, the ergodic thought is less strong than was considered.

We suggested that, somewhat, a couple of years ago.


We do not need the Santa Fe Institute to know that the dismal science (and some of its practitioners?) stinks. We are to think of mathematization, with its computational buddy, as the means out of the morass? The recent downturn's effect, and the continued reign of the quants, speak otherwise. They, principally, are the reason for the mess.

Too, we have other cracks awaiting discovery.

I don't have to go far to find something to the effect that the Vienna thinkers have cautioned against the over-reliance on the so-called "algorithmic" approaches. But, then, what is the alternative?

We'll get to that, at some point.


The only sure thing is that the payout won't be there, for many. How do we get a more fair situation? Well, neuroscience might provide a means, especially when enlightened by the likes of Baruch.


12/13/2012 -- Don't know how long this page will be there, Daily Ticker. But, when I looked, 69% had said 'no' (hurt rather than helped) as to whether Ben has helped.

Modified: 12/13/2012