There was an interesting (and blessedly short) podcast on MacroVoices yesterday (13-Jan-2020) during which econometric models were discussed. Jeff Snider, the interviewee, indicted economists for being infatuated with their models (to their detriment). That for all their beautiful, complex math they are nowhere near complex enough to capture reality. It was a theme that Danielle DiMartino Booth - an outsider working inside the Fed - brought up in her book Fed Up as well.

It seems to me that while the field of mathematics has over the past century embraced uncertainty, limits to knowledge, and truth outside the equation/system (e.g. Poincaré, Gödel, Tarski, Chaitin, Turing, Svozil, Heisenberg) economics has gone the other direction. I am not up to the task in understanding these mathematical theories of incompleteness nor econometric equations of equilibrium; nevertheless sense that the former philosophy, not the latter, is wiser.