Kruse Kronicle

Tag: forecasting

  • Economists: Not As Smart as You Think (Or Are They?)

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    mwkruse
    in

    Politics Today:  Economists: Not As Smart as You Think (Or Are They?) Economics appears to have replaced the law as the profession of ridicule. In April, for example, Business Week ran a cover story asking, "What Good Are Economists Anyway?" given that they failed to predict the worst recession since the Great Depression. More recently,…

  • How Did Economists Get It So Wrong?

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    by

    mwkruse
    in

    New York Times: How Did Economists Get It So Wrong? It’s hard to believe now, but not long ago economists were congratulating themselves over the success of their field. Those successes — or so they believed — were both theoretical and practical, leading to a golden era for the profession. On the theoretical side, they…