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<blockquote style="position: relative; padding-left: 55px;"><section><a href="https://mas.to/users/jackofalltrades/statuses/111839118113241617">Jack of all trades (jackofalltrades@mas.to)'s status on Tuesday, 30-Jan-2024 18:48:08 JST</a><a href="https://mas.to/@jackofalltrades" title="jackofalltrades@mas.to"><img src="https://gnusocial.jp/avatar/104190-48-20230304123253.webp" width="48" height="48" alt="Jack of all trades" style="position: absolute; left: 0; top: 0;">Jack of all trades</a><div><a href="https://geekdom.social/@FantasticalEconomics/111839027375208921" rel="in-reply-to">in reply to</a><ul><li><li><a href="https://gnusocial.jp/user/28285" title="phil_stevens@mastodon.nz">Phil Stevens :tinoflag:</a></li><li><a href="https://gnusocial.jp/user/90000" title="gerrymcgovern@mastodon.green">Gerry McGovern</a></li><li><a href="https://gnusocial.jp/user/136420" title="fantasticaleconomics@geekdom.social">Kyle Montanio</a></li><li><a href="https://gnusocial.jp/user/150334" title="geofcox@climatejustice.social">GeofCox</a></li><li><a href="https://gnusocial.jp/user/154795" title="504dr@climatejustice.social">504DR</a></li><li><a href="https://gnusocial.jp/user/202158" title="phiofx@hachyderm.io">phiofx</a></li></ul></div></section><article><p><a href="https://geekdom.social/@FantasticalEconomics">@FantasticalEconomics</a> </p><p>A rigourous and precise economics model cannot exist, because it would mean we are able to predict the future.</p><p>Economic models would necessarily be recursive as well. Even today with our imprecise models growth projections published by governments and companies affect the markets. Imagine what would happen if they were even more precise.</p><p>"Inflation expectations" are a nice little example of this in action.</p><p><a href="https://hachyderm.io/@phiofx">@phiofx</a> <a href="https://mastodon.nz/@phil_stevens">@phil_stevens</a> <a href="https://climatejustice.social/@GeofCox">@GeofCox</a> <a href="https://climatejustice.social/@504DR">@504DR</a> <a href="https://mastodon.tedomum.net/@lienrag">@lienrag</a> <a href="https://mastodon.green/@gerrymcgovern">@gerrymcgovern</a></p></article><footer><a rel="bookmark" href="https://gnusocial.jp/conversation/2648295#notice-5259892">In conversation</a><time datetime="2024-01-30T18:48:08+09:00" title="Tuesday, 30-Jan-2024 18:48:08 JST">Tuesday, 30-Jan-2024 18:48:08 JST</time> <span>from <span><a href="https://mas.to/@jackofalltrades/111839118113241617" rel="external" title="Sent from mas.to via ActivityPub">mas.to</a></span></span><a href="https://mas.to/@jackofalltrades/111839118113241617">permalink</a></footer></blockquote>

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Jack of all trades (jackofalltrades@mas.to)'s status on Tuesday, 30-Jan-2024 18:48:08 JSTJack of all trades
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@FantasticalEconomics
A rigourous and precise economics model cannot exist, because it would mean we are able to predict the future.
Economic models would necessarily be recursive as well. Even today with our imprecise models growth projections published by governments and companies affect the markets. Imagine what would happen if they were even more precise.
"Inflation expectations" are a nice little example of this in action.
@phiofx @phil_stevens @GeofCox @504DR @lienrag @gerrymcgovern
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