A few weeks ago, I watched the, Theory of Everything, which was about Stephen Hawking’s life and his battle with Lou Gerig’s disease. I loved the simplicity of Stephen hawking’s goal: One beautiful equation to explain the beginning of time.
If there is an equation to explain the beginning of time then shouldn’t there be the possibility of an equation to explain economics or other topics? In college and reading economic reports you always hear economists say the field of Economics is not an exact science but more an art form. That expression feels like a cop out. Just because nobody has figured out the solution doesn’t mean there isn’t one.
You would think that if there are scientists smart enough to give us a general idea about how the universe was created than someone should be able to give us a predictable model about Econimics. The problem maybe that the reverse might be true. Predicting Economic outcomes may be more difficult than predicting the beginning of everything because of all the variables from countries, businesses, markets, and the environment. Where as the universe is created via scientific natural laws.
I don’t have an answer for this issue. If I did I’d be on the front page of every publication in the world whil holding my Nobel Prize. I’m just thinking out loud about one of the most interesting and complicated topics of my life.
Though I may not see a single equation to predict economic outcomes in my time, someday someone or probably some machine will figure it out.