The skepticism of economists towards simulation in general is reflected in the following dissection of Jay W. Forrester's World Dynamics (Wright-Allen Press, Cambridge, MA, 1971):
- "Measurement Without Data", William D. Nordhaus, The Economic Journal, Vol. 83, No. 332 (Dec., 1973), pp. 1156-1183. 
We would do well to study this example (as well as from the much later Aspen project.) --Ken 01:34, 1 October 2008 (EDT)
Here's a link to an Op-Ed piece by Mark Buchanan in today's NY Times, sent to me by Peter Wayner:
This Economy Does Not Compute 
By MARK BUCHANAN Published: October 1, 2008
A very brief teaser:
Sadly, the academic economics profession remains reluctant to embrace this new computational approach (and stubbornly wedded to the traditional equilibrium picture).