I’m not entirely sure that I agree with Roger when it comes to prediction, so here’s a piece from the opposing viewpoint.
Firstly, we all make some long term predictions. We have to. We put money into the company pension fund based on a largely rational assessment of our chances of living to retirement age. We don’t sell our houses during a recession unless we really have to, because we’re confident that the market will pick up again – sometime. Likewise, as Tom S points out below, any plan on how we deal with (for example) North Korea necessarily contains some inherent assumptions and inferences about what the future holds for that country.
This may seem like a very trite point to make, but perhaps it’s fundamental – I don’t think that anyone is seriously suggesting that we can’t make sensible predictions about the distant future, so the argument is about the nature and accuracy of the predictions we can and do make, and whether an inaccurate prediction is worse than no prediction at all.
Secondly, we’re getting better at the predictive sciences. Social Network Analysis, Game Theory, and Convergent Cross Mappingare just a few areas of scientific development which are increasing our ability to deal with the complexity inherent in the interrelation of multiple causal relationships, and the calculation of high-order effects, particularly when backed up exponential increases in computing power, as predicted by Moore’s law.
Lastly, I’d like to draw a (probably slightly naff) analogy with marksmanship. If a trained soldier engages a target at 300 meters with an assault rifle*, you would expect all of their shots to fall within a radius of around 10cm or so. If you extend that range to 500m, it would a good marksman who managed to get the majority of the shots to fall on a man-sized target*. But the principles of marksmanship remain the same. If we want to increase accuracy at greater distance, we can do one of two things: Become better marksmen or get a better weapon system – ideally both. The links above suggest that those better weapons systems are coming into service. We, as analysts, had better start learning how to get the best out of them.
* For the sake of full disclosure: I’ve never been able to hit a man-sized target at more than 100m. I’m not sure if it was this, my complete inability to do drill, my utterly un-soldier-like demeanour or my occasionally ambivalent approach to physical exercise which prevented my meteoric rise to Brigadier.