I am awed by Stephen Wolfram's unorthodox take on science. Can't pretend I get everything, but the sections of A New Kind Of Science that I read are just barely within my grasp. Thank you!

Policymakers still operate in an absolutist legal framework of trusts that is implicitly based on a view that future returns are predictable, or at least the stochastic properties of those predictions don't change over time.

The regulation of defined contribution variable life benefits is in its infancy. The policymakers do not yet appreciate the public policy consequences of having explicit vs. implicit reserves, or benefit smoothing in general.