The FT compensated for many articles like the one written by Philip Stephens with an article by Tim Harford on ‘Big data’, published online on March 28. It is long but must-read for students of economics and statistics, in particular.
When I read the article, I was reminded of two of my recent readings:
(1) Dennis Meadow’s comments (paraphrased here) that new technologies cannot save the world because they reflect the values that we have and that unless values change, we are doomed (or, words to that effect).
(2) Of the modellers’ hubris, well documented by Arnold Kling and Dani Rodrik.
As long as America dominates world affairs, hubris is the big risk for the human race. With other superpowers, there may be other risks, of course.