Just as we have weather forecasting, climate models .. we do need and should have good fine-grain computational models of complex systems such as the cell .. and the global economy.
We should be able to have whole economy simulations give reasonable predictions in response to natural events and lever-pulling such as :
- higher progressive tax rates - central bank interest rate moves - local tariffs and sanctions - shipping blackades / blockages - regional war - extreme weather events - earthquake - regional epidemic - giving poor people cash grants - free higher education - science research grants - skilled immigration / emigration
But .. of course this would require something like a rich country providing grants to applied cross disciplinary research over many years.
It might even lead to insights that prevent semi-regular economic boom and bust cycles we experienced the past 100 years.
replies(8):