Economists utterly fail at predicting recessions

There are some things that economists are good at and some that they are not. Art DeVany, an extremely well-known economist, points to economists record at predicting recessions.



Anonymous Anonymous said...

Perhaps the illusion of control is more important than the truth in this case. The placebo effect in action.... The one thing that may demonstrably be effected by this package is consumer confidence because 98% of the people think the government is on top of the problem because they are "doing something" when in reality they are just throwing darts at a board taht's too far away to see.

2/10/2008 8:20 PM  

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