Physicists make weather forecasts for economies

Giovedì, 26 Febbraio, 2015

"Nature reports on a paper by L. Pietronero et al"

The results are the latest effort to create algorithms that predict whether nations will grow rich or stay poor. Economists are accustomed to thinking of a country’s growth prospects as shaped by a myriad of factors — not just the goods and services it produces, but also its degree of corruption and social disorder, the quality of its infrastructure and the education level and cultural preferences of its citizens. This way of thinking fuels plenty of arguments about future economic growth, but has not always led to reliable predictions.