
1008: Brian Klaas | Embracing Uncertainty in a World of Flukes
The Jordan Harbinger Show
Dynamic Nature of Economic Systems
The dynamic nature of economic systems is constantly changing due to various factors such as pandemics, social dynamics, and technological advancements. Forecasting is challenging because causality is constantly evolving, and the significance of contextual noise is crucial. Trying to model complex and chaotic systems like the economy using social science for forecasting is ineffective due to the ever-changing cause and effect dynamics. Adapting to the idea that things happen unpredictably is challenging, especially when dealing with significant changes.
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