Re:Ask HN: What scientific phenomenon do you wish someone wo...
by marcosdumay on Monday April 27, 2020 @12:53PM
(#22997570)
There are two branches of economics. One of them is a science, the other is (politically, economically, and culturally) successful.
I don't think I've ever seen a mainstream economic prediction that was actually correct.
It's not hard to understand why. Reducing all the sectors of a complex economy to crayon-drawn measures like "inflation" and "unemployment" - which aren't even measured with any consistency - is like trying to predict the weather in the Bay Area using a single weather station for the entire continental US, which is conveniently located on the wall of a cow shed in Kansas.