The successes of modern control theory in the design of highly accurate space navigation systems have stimulated its use in the theoretical analyses of economic and biological systems. Similarly, the effectiveness of computer simulation techniques in the macroscopic analyses of physical systems has brought into vogue the use of computer-based econometric models for purposes of forecasting, economic planning, arid management.
Climate forecasts (projections) decades into the future have not demonstrated skill in forecasting local, regional, and global climate variables.roger a. pielke
The claim by the IPCC that an imposed climate forcing (such as added atmospheric concentrations of CO2) can work through the parameterizations involved in the atmospheric, land, ocean and continental ice sheet components of the climate model to create skillful global and regional forecasts decades from now is a remarkable statement. That the IPCC states that this is a ‘much more easily solved problem than forecasting weather patterns just weeks from now’ is clearly a ridiculous scientific claim.roger a. pielke
The only function of economic forecasting is to make astrology look respectable.
The only function of economic forecasting is to make astrology look respectable.john kenneth galbraith