Segments in this Video

Introduction: Storm and the Butterfly (01:02)


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.

Theme One: Do Models Necessarily Fail to Describe Reality? (13:18)

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.

Theme Two: Does Our Allegiance to Models Lead to Catastrophe? (14:45)

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.

Theme Three: How Can We Protect Ourselves From Uncertainty and Risk? (05:04)

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 (00:21)

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

Item#: BVL145297

ISBN: 978-1-64198-822-3

Copyright date: ©2015

Closed Captioned

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