I don't link to many videos, but this one deserves an exception.
One can learn a lot about the research methods of the modern economics profession in the comments of this post. I must say that I love this line: "And cold weather has never been a problem with our O-rings. I'm an engineer. Inductive data doesn't impress me." I often get in long discussions with economics PhDs at work and our disagreements seem to always come back to this point. Perhaps those of us who were trained as engineers will always come back to problem of designing systems that have to function in the real world.
At least in the financial world, the regulators just ask the banks how they want to be regulated.