Friday, April 9, 2010

HOW IS THIS A SCIENCE?


I really liked the economics courses I took for my MBA. Both the micro and the macro economics parts of the class I found very interesting. But I have never in my life come across a scientific and mathematic discipline that is so wrong so often.

As a science, it seems odd to me that economists use 19th century formulations to measure a 21st century globalized world. What other science is constantly revised, can only be looked at every 3 months and cannot be accurately measured?

As a researcher whose entire career is based on correct numbers, if I was wrong and revised as often as economists are, I would never be read or believed by my senior management.

Economists need to get together and get some consensus on how to properly and accurately measure in REAL TIME, exactly what's going on with the global economy. Come on, if astronomers can measure galaxies, why can't economist accurate measure 1 planets net inputs and outputs?

No comments:

Post a Comment