Tuesday, June 5, 2012

On Modeling

An NPR story this weekend on blacksmithing alluded to nice little story:
During lunch, Aspery tells an old story about King Arthur.
In the story, the king asks artisans to explain why their work was important to building Camelot. Tailor, carpenter, stone mason, goldsmith — each make a strong case. But then Arthur thinks twice. He asks them where they get their tools, and all say they go to the blacksmith. Then Arthur asks the blacksmith who makes his tools. The blacksmith says, "Sire, I make my own tools. That is my craft."

And so it is in the business school. The study of Accounting, Information Systems, Finance, Management, and Marketing are all important and worthy subjects. Where do they get their tools (models)? Not all come from economics but a large number do. And where do we get our tools? We make them, that is our craft.
“...and the kindly King moved the humble blacksmith to the head of his table, as he had made all the tools for all the trades.”
                                                                                            -King Arthur

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