Intuitively, it is not just the limited capability of ordinary software that makes it safe: it is also its lack of ambition. There is no subroutine in Excel that secretly wants to take over the world if only it were smart enough to find a way.
— Nick Bostrom, Superintelligence
I wouldn’t be so certain about it.
There are “scientists” (economists) who think it is OK to use Excel for making predictions that affect several people, as you can see from this article in The Guardian. Essentially, they didn’t add four years of data from New Zealand to a spreadsheet. Other methodological factors were in effect as well. And all of this contributed to lots of people losing their jobs in various countries when the recommended austerity measures were put in place. Imagine if Excel wanted to take over the world.
The paper that discusses in depth about Reinhart and Rogoff’s mistake is “Does High Public Debt Consistently Stifle Economic Growth? A Critique of Reinhart and Rogoff“.