Tuesday, August 19, 2014

ECON CON ; a radically historical science ...enter Agent Based Models

The GE paradigm
Despite polite deference
is hanging by its finger nails

And has been for decades
The academy needs to pursue ABM
In fact I'd scrap the whole dsge Rat ex single rep agent paradigm
It reminds me of string theory
Neither has advanced our knowledge after 40 years of clever elaborations
Yet both may well have served a number of preliminary preporatory purposes
Both positive and negative
That may well have been required in some sterile form
Prior to the arrival of a fertile form of ABM

the task

Recall rugged long lived paradigms
fail for lack of internal consistency

Once abandoned by the community
of orthodox experts
a paradigm simply stagnates
Its ability to self expand
to innovate
To push out the depth and breadth
of its coverage
is simply not tested anymore
clever thinkers
".... in theory .. robustness is key"
not always
epicycles can produce any pattern of celestial motions one might observe
but that paradigm after a nice run was abandoned
similarly the celestial aether was abandoned
as the4 ultimat6e stuff
only to re appear as the sub planck scale
stuff of M theory
these metaphysical postulations are endless
they never die
only the community
that hatches and nurtures them die
Euclidian immortality
locus paleoclassicus Semiticium
the first book of Moses
Quality control?
Sim science
Is about causal story lines
Like natural evolution
sim science is radically
history based
economics is a radically historical science like natural evolution