Macroeconomics

Limitology - Identifying Model Boundary Conditions

Individuals and societies adopt and evangelize models to develop economies, science, technology and culture. Invariably the strength or flaws of these models are exposed empirically over the course of decades, centuries or millenia, as is the case for theology, In particular world economies are compressing cycles of bubbles and recessions at ever increasing rates as the strengths of a model are adopted and then abandoned on failure as limitations are egregiously exceeded.

Syndicate content