I happen to come across an article that some I believe well know economist used a computer model to prove that middle class dependency on government assistance is the downfall of government.
Now the article as I recall didn't say exactly what information was used for this computer model.
Now I can recall from one of my computer courses in the wild and woolly early seventies the term GIGO, or in real terms garbage in garbage out.
We as a people seem to put too much faith in things like computer models, though the weather people seem to be getting there predictions more accurate lately. When one looks at a computer model especially in economics, one has to know something about the original data and how accurate that data is, or else we making judgement calls on GIGO, or in an other word crap.
Sunday, May 5, 2013
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