Rod Dowler recently wrote a letter which appeared in Financial Times last week and generated lots of debates. Since FT requires paid registration, we offer you a copy of the letter here (with first replies appended).
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Discussion
Highly qualified quants should move to more productive positions. This will be vital for modern countries. For the qualified physicist to take charge of economics, he must be a strong and honest PHYSICIST, which means avoiding the crypto obsessed dogmatic extremely specialised mathematicians who are dominating more ans more the field and even redifining what econophysics is meant to be! it would be indeed ridiculous to replace economists by more obscure people.
Honesty takes a back seat in the bus when and where big money is involved. I recall well Paul Wilmott's description (Monaco workshop, spring, 2008) of the transformation of behavior of a newly employed financial engineer under pressure from the big boss to package an appropriately 'calibrated' derivative and sell it fast to a well-heeled customer. I'm therefore not sure what's meant above by the term 'highly qualified quant'.