Posts Tagged ‘economics’

A Grain Of Salt

August 2, 2014 5 comments

Somehow, I stumbled upon an academic paper that compares programming language performance in the context of computing the results for a well-known, computationally dense, macro-economics problem: “the stochastic neoclassical growth model“. Since the results hoist C++ on top of the other languages, I felt the need to publish the researchers’ findings in this blog post :). As with all benchmarks, take it with a grain of salt because… context is everything.

Qualitative Findings

The Findings

Quantitative Findings

The Numbers

The irony of this post is that I’m a big fan of Nassim Taleb, whose lofty goal is to destroy the economics profession as we know it. He thinks all the fancy, schmancy mathematical models and metrics used by economists (including famous Nobel laureates) to predict the future are predicated on voodoo science. They cause more harm than good by grossly misrepresenting and underestimating the role of risk in their assumptions and derived equations.

%d bloggers like this: