In regards to prediction: I just heard (starts at 9:20) some claims that no method of prediction for the economy is doing better than extremely crude models. Unfortunately, I haven't been able to find a cite for the "two young economists" who did the research.
However, I'm not sure that prediction is a matter of wisdom-- I think of wisdom as very general principles, and prediction seems to require highly specific knowledge.
It was obvious that real estate prices couldn't go up forever, especially as more and more people were speculating in real estate, but as far as I can tell, it was not at all obvious that such a large amount of the economy was entangled in real estate speculation that a real estate bust would have such large side effects.
Solutions to difficult technical problems became much more feasible after science was around for a while. I'm not dead certain we even have the beginnings for understanding complex social systems.
Part of the difficulty of prediction is that it's dependent on both science and tech which hasn't yet been discovered (our current world is shaped by computation having become easy while battery tech is still fairly recalcitrant) and on what people are doing-- and people are making guesses about what to do in a highly chaotic situation.
Taleb is interesting for working on how to live well when only modest amounts of prediction are feasible.
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I understand how you feel about this, but I think most of the veterans would think more of a person who showed them respect by getting feedback before putting their first post on the main page. Certainly I would.
...I wonder if it would be possible to implement the following feature: the first post for a new account automatically goes to the Discussion page for a few days before it posts to the main site. If that were a known feature,would you be bothered by it?
I think this comment highlights the distinction between popular and good.
High ranked posts are popular, good may or may not have anything to do with it.
Personally I find all this kowtowing to the old guard a bit distasteful. One of my favorite virtues of academia is the double blind submissions process. Perhaps there are similar approaches that could be taken here.