Philosopher Rupert Read, economist Anatole Kaletsky, and lecturer Felix Reed-Tsochas introduce their views on modeling. They will discuss the importance of prediction in society.
The panel discusses the problems with models—they are based on past information and whether or not they are destined to fail. Read says more tools are needed in addition to models. Kaletsky says older models of economics fail to understand the modern economy.
The panelists discuss the dangerous of society's dependency on models. Reed-Tsochas talks about the other possible outcomes. Kaletsky explains the problems that lead to the financial crisis of 2008.
The panel discusses how society can protect itself from risks. Reed-Tsochas says society needs a better culture of modeling. Kaletsky says society must question the evidence.
Credits: Storm and the Butterfly
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We rely on our models to chart the future. Yet from the financial crash to climate change, life has a habit of defying prediction. Do our models necessarily fail? Must we live cautiously, in fear of unforeseeable risks, or can we refine our models to enable accuracy, reliability and prosperity? The Panel Philosopher and politician Rupert Read, eminent economist Anatole Kaletsky and lecturer Felix Reed-Tsochas find the edge of uncertainty.
Length: 35 minutes
Copyright date: ©2015
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Not available to Home Video and Publisher customers.
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