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1. Back to economics, Paul Krugman justifies “equation filtering,” seeing no “rigorous way to model” even "obvious empirical” facts unless they’re in equations. 12. But having the equations ≠ having good models. Even Newton-pattern equations can create cloudy crystal balls — “We’re better at predicting what happens at the edge of the galaxy than ... whether it’ll rain” (Tom Stoppard). 13. Economics has it way worse than the weather modellers. Economies are “complex adaptive systems” (less physic-like, more organism-like, or ecosystem-like). - http://bigthink.com/errors-we-live-by/few-maximize-most-muddle-modelling-the-few-misleading-math