I think we're talking apples vs oranges.
The thread was about economists, not quants.
> There's no analytic solution to complex economic systems in practice.
yes
The thread was about economists, not quants.
> There's no analytic solution to complex economic systems in practice.
yes
Edit: an LLM thinks I'm overly dismissive of: - Standard economic modeling - Dynamic macroeconomic theory - Agent-based economics - The legitimate uses of time in economics
This is true. I think causal inference in finance and economics is difficult. As Ludwig von Mises argued, mathematical models give spurious precision when applied to purposeful behavior. Academic ideas don't have a built-in feedback loop like in quant finance.