So you see, in the end, it is nearly certain that the power of prediction must triumph over the arrogance of elegance.
--
Chapter 15, The Wrong 20-yard Line, p. 148Robert Haugen
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In real-world Finance, they don't pay for elegance. They pay for power - predictive power.
Robert Haugen
Prediction of the future is possible only in systems that have stable parameters like celestial mechanics. The only reason why prediction is so successful in celestial mechanics is that the evolution of the solar system has ground to a halt in what is essentially a dynamic equilibrium with stable parameters. Evolutionary systems, however, by their very nature have unstable parameters. They are disequilibrium systems and in such systems our power of prediction, though not zero, is very limited because of the unpredictability of the parameters themselves. If, of course, it were possible to predict the change in the parameters, then there would be other parameters which were unchanged, but the search for ultimately stable parameters in evolutionary systems is futile, for they probably do not exist... Social systems have Heisenberg principles all over the place, for we cannot predict the future without changing it.
Kenneth Boulding
It is important to emphasize the value of simplicity and elegance, for complexity has a way of compounding difficulties and as we have seen, creating mistakes. My definition of elegance is the achievement of a given functionality with a minimum of mechanism and a maximum of clarity.
Fernando J. Corby Corbato
When power leads men towards arrogance, poetry reminds him of his limitations. When power narrows the areas of man's concern, poetry reminds him of the richness and diversity of his existence. When power corrupts, poetry cleanses. For art establishes the basic human truth which must serve as the touchstone of our judgment.
John F. Kennedy
The arrogance of power is the best hope for the survival of freedom.
James Bovard
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