Earlier quoted context omitted.
Speculative fields have became more noticeable. Though, can you tell me what is not speculative in social culture? If one were to push it, what you call "fake disciplines" can extend to most of human society. Don't go there.
My fake discipline comment is a direct response to the havoc wrought by attempting to place a normal distribution, which worked so nicely in insurance when dealing with things like lifespan, on top of a chaotic system like finance. Long Term Capital Management, Value at Risk, and other models from very, very smart quantitative minds who simply misunderstood the problem space and almost took down the world economy. I…
I would like to point out research in low-probability events, response to too-big-to-fail, fat tails and black swans in defense of emerging Financial Engineering and Risk Management. The best defense of it that I have ever seen was in the book "The Black Swan".