Re: flow or stock?

[Alan G Isaac <aisaac@xxxxxxxxxxxx>]

On Fri, 09 Aug 2002 14:24:34 +1000 "Bruce R. McFarling" <ecbm@xxxxxxxxxxxxxxxxxxx> wrote:
> Notably, then, a non-ergodic system can still be compatible with:
> ...
> (2) Useful time-horizon forecasts -- forecasts that provide
> more benefit than a random guess regarding likely outcomes
> over a certain time horizon.

Absolutely right.  People who claim that nonergodicity rules
out prediction for policy purposes should also claim that
they are unable to decide whether it is safer to be on the
sidewalk or in the middle of a busy street.

Cheers,
Alan