Comment by 1wd

Does anyone predict economy/population/... by simulating individual people based on real census information? Monte carlo simulation of major events (births, death, ...) based on known statistics based on age, economic background, location, education, profession, etc.? It seems there are not that many people that this would be computationally infeasible, and states and companies have plenty of data to feed into such systems. Is it not needed because other alternatives give better results, or is it already being done?