We mentioned Harvard as an example of risky endeavors as loss bringers. We've been watching this for a year now. Somehow, people complain about the existence of losses when a true accounting would allow us to see real progress as loss constrained to be less than gain, when it was there, of course. Oh, isn't that the basic definition of profit?
One would think that the best-and-brightest at these types of institutions could get a better handle on these things. Perhaps, one of these days it'll happen. How many did Harvard, et al, lead down a path to financial perdition?
Well, that was 7oops7. Now, over here, we brought up Harvard as an example of a little mathematics going a long way (too far, essentially). This was raised in the context of swarm proof which is of interest to how we handle truth.
Well, since the, we've started to look more closely at quants and their magic. Why? Well, the big money seems to be going that way.
So, schools ought to have roles. For one, they can be used as playgrounds (sandboxes), in part. Keep the endowment secure, folks. Too, they can serve as labs for elucidating the major issues, such as undecidability. Also, those quasi-empirical issues ought to be handled by schools.
10/17/2011 -- If we're to challenge Harvard on its duty, then we'll need to beef this up. For one, is education only operationally important, measured in bucks? Ah, so much to discuss.