Rational Expectations Inquisition

The video discusses the inductive approach to feedback, emphasizing less structure and frequent sampling for course corrections. It explores historical astronomy, highlighting Greek philosophers, the Catholic Church, and the shift from geocentric to heliocentric models. The role of Tycho Brahe's data and Kepler's analysis is examined, followed by Galileo's empirical experiments. The video draws parallels between Galileo's telescope and modern economic theories, critiquing the reluctance to accept new evidence.

What is the inductive approach in the context of feedback?

How did the Greek philosophers and the Catholic Church contribute to our understanding of the solar system?

What role did Tico Brahe and Kepler play in the development of astronomical equations?

Discuss the significance of Galileo's empirical experiments in validating Kepler's equations.

What parallels can be drawn between the Inquisitors' refusal to accept Galileo's findings and modern economic theories?