The problem is that people have been deluded for so long into believing that economics is an actual science… and so it must be true. Well, for a time, so was bloodletting. Or the ‘ethnic sciences’.We know all of these things are nonsense today. But for some reason, people still haven’t figured out that an economist with a forecast is no different than a medieval fortuneteller.
This is from Simon Black of the Sovereign Man debunking the popular romanticized fiction called government economic forecasting.
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