Archive for March, 2009

The Real World is Complex and There Are Few Simple Answers

Posted in Uncategorized on March 15, 2009 by Mike Procario

I was reading an article on Newsweek about the delays in the LHC, and I saw a link to an article on the role of libertarians in the financial collapse.  I came across this quote.

The worst thing you can say about libertarians is that they are intellectually immature, frozen in the worldview many of them absorbed from Ayn Rand. Like other ideologues, libertarians react to the world failing to conform to their model by asking where the world went wrong. Their heroic view of capitalism makes it difficult for them to accept that markets can be irrational, misunderstand risk and misallocate resources—or that financial systems without vigorous government oversight constitute a recipe for disaster. They are bankrupt, and this time, there will be no bailout.

I believe that we can learn a lot about how people really behave, but it will not be simple answer. People are a very diverse lot with many motivations, and no simple model is going to capture all of it.