While talking about pseudo-science at CalTech, the late Michael Crichton mentioned that one problematic issue is thinking of computational output as data. Posts in this blog have ragged about that type of thing, to boot.
In one case, a claim might be made that erroneous outcomes in both design and planning are directly related to too much reliance on the computational framework. Where things can really go awry is during a long computational chain where results from one step are fed into another.
We'll have to look at this issue from several angles, as things may not be as clear as they may seem to certain viewpoints, including looking at the being of money.
06/20/2009 -- Yes, rent can go to labor (new look at capitalism), and finance can have a higher calling.
11/18/2008 -- One thing that engineering can do is test against reality. The better the effort in this regard, the more understanding of the underlying theory can improve. Unfortunately, financial engineering is handicapped from the beginning.
Yet, we can do it right.
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