I totally agree with Pete and might add from personal experience that the
same persons who create and use such models, also create and use rumours and
other very questionable methods to manipulate the market, aside. of course,
from
the highly risky hedge funding (we had long discussions at the FRIAM meetings
about using hedging to pay for health care; I was totally opposed).
Unfortunately many of the financial asset managers acted exactly like the CEO
and
others at ENRON. I believe they are criminal and motivated by greed and fear
(like so much othe culture and media now). The empire is perhpas crumbling.
Non-regulated markets generally fail in the end.
As ex UN environmental governance expert and seeing how countries are
inadequately reacting to global warming and other environmental threats, I
believe
that it is time to rationally analyze the balance between natural resources and
human needs and find a more sustainable models. Jared Diamond points out
this necessity in his book Collapse.
I also would like to see all complexity modelers adept a code of principles
and morality to avoid the misuses of complexity, e.g., torture, military
aggression, financial manipulations. etc.
Enough, Perhaps too much. Please excuse my rage.
Paul Paryski
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