Feels like we’ve passed the point where debt is just a background worry. If the models can’t even handle where we’re at now, maybe the risks are way closer than we’d like to think.
Feels like we’ve passed the point where debt is just a background worry. If the models can’t even handle where we’re at now, maybe the risks are way closer than we’d like to think.
Want to screw with an Economist? Ask them for a model that can keep the Vatican afloat for a thousand years through empires/nations/banks/currencies collapsing.
Same for a model crashing.
Different thing is if it showed that repayment is inpossible.
The article mentions a ery important subject, but quality is low.
https://en.wikipedia.org/wiki/Reification_(fallacy)
It is interesting that the complaint is that the model would not converge. Convergence might be a nice property to have or desire, but simple systems don't necessarily converge. For instance ecosystems are chaotic.