I've heard of "mental masturbation" or perhaps your colleague was a smith? :D Of course, my mind is a flurry of possibilities.
My trouble with the topic is that few economists and sociologists apply the mathematical and statistical theory with rigor. Often their conclusions sound correct or reasonable, but upon scrutiny are only half baked.
My trouble with the topic is that few economists and sociologists apply the mathematical and statistical theory with rigor. Often their conclusions sound correct or reasonable, but upon scrutiny are only half baked.