Predicting Turbulence
The discussion highlights the parallels between weather forecasting and economic predictions, emphasizing the complexity of both systems. As forecasting accuracy improves over decades, the potential for similar advancements in economics is explored, raising questions about the challenges of predicting human behavior compared to natural phenomena. The conversation also touches on the significant investments made in weather prediction and whether a similar approach could yield better economic forecasts.In this clip
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EconTalk
Chaos and Complexity Economics (with J. Doyne Farmer)
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