In real-world Finance, they don't pay for elegance. They pay for power - predictive power.
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Chapter 13, Counterattack - The Second Wave, p. 129Robert Haugen
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A comprehensive list of factors brings predictive stability and predictive stability and predictive power.
Robert Haugen
I used many times to touch my own chest and feel, under its asthmatic quiver, the engine of the heart and lungs and blood and feel amazed at what I sensed was the enormity of the power I possessed. Not magical power, but real power. The power simply to go on, the power to endure, that is power enough, but I felt I had also the power to create, to add, to delight, to amaze and to transform.
Stephen Fry
Money only buys the illusion of power. Real power is in the force of will — will strong enough that others bend to it for its own sake, and follow it willingly. Power that is won through deception will evaporate under the hot light of truth.
Orson Scott Card
Europe is to be turned into a banana republic by taxing labor – not finance, insurance or real estate (FIRE). Governments are to impose heavier employment and sales taxes while cutting back pensions and other public spending. ... The financial privatization and credit-creation monopoly that governments have relinquished to banks is now to really pay off – at the price of breaking up Europe. ... The unelected members of the European Central Bank have taken over planning power from elected governments. Beholden to its financial constituency, the ECB has convinced the EU commission to back the new oligarchic power grab. ... In sum, the Neoliberal Revolution seeks to achieve in Europe what the United States has achieved since real wages stopped rising in 1979: doubling the share of wealth enjoyed by the richest 1%. This involves reducing the middle class to poverty, breaking union power, and destroying the internal market as a precondition. - October 2010
Michael (economist) Hudson
So you see, in the end, it is nearly certain that the power of prediction must triumph over the arrogance of elegance.
Robert Haugen
Haugen, Robert
Haughey, Charles
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