[Pen-l] The economics professions

["Charles Brown" <charlesb@xxxxxxxxxxxxxxxxxxxxx>]

While I am writing, to those of you complaining about the bankruptcy of the economics professions for failing to forsee the events of 2008, what conclusion are you drawing?  The conclusion that I draw is that if thousands of very smart people devoted to understanding our economy couldn't accurately predict what was going to occur, why do we think a few dozen government officials could do any better?  

David Shemano

^^^
CB: This reminds of what Einstein said when hundreds wrote criticizing something he had said. He said if he was wrong, it would only have taken one to show it.

Anyway, lots of economists on PEN-L predicted that the neo-liberal structures would lead to a crisis, no ? 



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