Visualization software provides interactive data visualization that helps business, scientific and engineering users gain critical insight from all types of data. It should be applied to the impact that government policies have on the economy.
A software package called PowerWorld (www.powerworld.com), for example, maps out power lines so engineers know what effect a power line going down has on the entire power grid.
Let's assume the Fed raises interest rates, natural gas prices fall, and the Alternative Minimum Tax is repealed. I don't trust anyone in Congress to know what the aggregate impact of all three changes will have on consumer spending. Visual software allows the user to enter data into a model to create scenario testing. The software helps to bring about optimal decisions. Its powerful stuff.
Its hard to contextualize policies and scenarios when politicians talk about them independently. The economic system is intertwined. I'd rather hear a debate be over the accuracy of input data and system modeling techniques than an argument over individual policies, especially since government policies can have a big impact on the overall economy.
Saturday, October 4, 2008
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