Wednesday, 4 April 2012

More on witchcraft and voodoo

From Freakonomics
Here’s something you don’t often hear an economist admit: We have very little idea where the economy will be next year.

Truth be told, our best guesses just aren’t very good. Government forecasts regularly go awry. Private-sector economists and cutting-edge macroeconomic models do even worse.
May be the macro guys should innovate by upgrading from sheep entrails to goat entrails for their forecasting!!!

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