There are entire disciplines in which predictions have been failing, often at great cost to society. Consider something like biomedical research. In … - Nate Silver

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There are entire disciplines in which predictions have been failing, often at great cost to society. Consider something like biomedical research. In 2005, an Athens-raised medical researcher named John P. Ioannidis published a controversial paper titled "Why Most Published Research Findings Are False." ... The paper studied positive findings documented in peer-reviewed journals: descriptions of successful predictions of medical hypotheses carried out in laboratory experiments. It concluded that most of these findings were likely to fail when applied in the real world. Bayer Laboratories recently confirmed Ioannidis's hypothesis. They could not replicate about two-thirds of the positive findings in medical journals when they attempted the experiments themselves. ...