Tuesday, June 30, 2015

The more complex the social system the more limited should be the prediction

From Quotation of the Day… by Don Boudreax.

Quoting F.A. Hayek:
There seems to me to be still much truth in the view that as we move from the comparatively simple phenomena of inanimate nature to the increasingly complex ones of life and society, we may have to become more modest in our aims and be content with results which are more limited in their predictive content than is the case in the physical sciences.

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