The Natural Philosopher wrote:

>Terry Fields wrote:
>> Huge wrote:
>> 
>>> On 2008-09-19, Terry Fields <no.spam.here@thanks.invalid> wrote:
>>>
>>>> Interestingly, I turned up references to a model that was used in, I
>>>> think, economics. The proponents of this model had such a powerful
>>>> grip on the field that one could not get academic tenure if one
>>>> expressed any doubts about the model; at least one well-known academic
>>>> suffered because of this.
>>>>
>>>> Then, one day, the model stopped working.
>>>>
>>>> The possible parallels here might prove interesting.
>>> Possibly LTCM?
>>>
>>> http://en.wikipedia.org/wiki/Long-Term_Capital_Management
>> 
>> No, I don't think it was that one. The model name began with 'P' IIRC.
>> 
>> But look at the glittering names in that report...that have just run
>> into the buffers. 
>> 
>> Modelling chaotic systems isn't quite as settled as some would have
>> one believe.
>
>£cnomists are very poor scientists: in fact many would say they are not 
>scientists at all.

I'll bet they're better paid, though ;-)