Economic Forecasting VS Science Fiction Predictions

There are two ways to predict the progress of technology. One way is economic forecasting, the other way is science fiction. Economic forecasting makes predictions by extrapolating curves of growth from the past into the future. Science fiction makes a wild guess and leaves the judgment of its plausibility to the reader. Economic forecasting is useful for predicting the future up to about ten years ahead. Beyond ten years it rapidly becomes meaningless. Beyond ten years the quantitative chang...

 Measurements Change Dramatically Depending on the Methodo...

Benoit Mandelbrot asked his famous question “How long is the coast of Britain?” long before this symposium was written, but it perfectly captures the sort of puzzle people in this crowd love. The question seems simple. Just look it up in the encyclopedia. But as Mandelbrot observed, the length of the coast of Britain depends on what you use to measure it. If you draw lines on a map to approximate the coastline, you get one length, but if you try to measure the real bumps in every inlet an...