Why Economic Models are ALWAYS Wrong! Scientific American Read

benld74

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Wed Oct-26-11 09:17 AM
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Why Economic Models are ALWAYS Wrong! Scientific American Read

Nothing really earth shattering about the article, OTHER than Wall Street DEPENDS on their quants and formulas DAILY! We have seen the FIRST problem, AND there will be MORE! Why? Because of minute changes in their BASE models!

http://www.scientificamerican.com/article.cfm?id=finance-why-economic-models-are-always-wrong

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Cirque du So-What

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Wed Oct-26-11 10:04 AM
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1. I now feel vindicated

for having called BS on the hooey taught in the macro-and-microeconomics classes I took as an undergrad. To make things worse, the unbearable bore who taught both classes grew absolutely beatific at the mere mention of trickle-down economics guru Arthur Laffer (creator of the Laffer curve).

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