With those changing algorithms that add to the mix how can an economist or anyone in that matter really nail it down today with a big picture? Some of the smaller pictures are still within reach. Myself when I see reports and studies that go too far in the past I kind of lose interest in reading myself as there’s some good in there for discussion and knowing the history of how we got to where we are today, but to use the same methodologies today that worked years ago, not a solution today as one algorithm changes it in a heartbeat. He’s quite entertaining in this video and the man is brilliant, and he’s one of those “hybrids” that Bill Gates said will be the people with value as he has more than one focus and understanding of more than one view point. So when you think about all the predictive analytics we have out there today in the world and in healthcare, not all have value and some are there to disrupt and distract from the analytics that do. Sometimes that’s the strange design with one algorithm built to seek out another one and change it’s value. It can drive you crazy as we are working on the machine’s time frame and not the human elements.
If you want to see a more serious side of him, he’s one of the folks in the Quants documentary. There’s several other videos on the web with him and the Doctor is up there as in some areas, he has Black Box access. BD
Quants: The Alchemists of Wall Street Video Documentary - Why It Needs to Matter What Companies Do and Not Focus Only On the Price of Stock With So Called Value - Attack of the Killer Algorithms Chapter 44