Re: Hutchinson on models: The Mathematical Menace
I find the concept of "university certified" to be a rather weak criteria for expertise. I attended the University of Michigan. At various times I was taught by university "experts" on subjects in which I had first hand experience. In many cases, the "experts" had apparently never actually put hand to tool because what they taught did not match with my experience.
If all you've experienced in life is high school, college professors probably seem to be great experts. If you've done a bit of living first, college seems a whole lot less credible.
I have been working with financial models for years as well as more technical models like SPICE. I've helped build revenue growth and P/L and ROI models. Even under the best of circumstances there is a conflict between model accuracy, model attractiveness to management and the long term vs short term results.
To imply that "university" stuff is not subject to politics and political influence is just not credible to me.
My reading of Hutchinson is that he is one of the few commentators who actually uses real world results to analyze the usefulness of proposed economic solutions. Most folks just care about the R or D attached to the ideas.
Originally posted by santafe2
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If all you've experienced in life is high school, college professors probably seem to be great experts. If you've done a bit of living first, college seems a whole lot less credible.
I have been working with financial models for years as well as more technical models like SPICE. I've helped build revenue growth and P/L and ROI models. Even under the best of circumstances there is a conflict between model accuracy, model attractiveness to management and the long term vs short term results.
To imply that "university" stuff is not subject to politics and political influence is just not credible to me.
My reading of Hutchinson is that he is one of the few commentators who actually uses real world results to analyze the usefulness of proposed economic solutions. Most folks just care about the R or D attached to the ideas.
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