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An economist’s prediction about the impact of new technology 8 years out is not comparable to an economist’s prediction about the near future of the economy or
by jacobolus 8y ago
An economist’s prediction about the impact of new technology 8 years out is not comparable to an economist’s prediction about the near future of the economy or the effectiveness of government intervention.
Dragging this quotation out anytime Krugman says anything is weak and lazy. Pick any person who routinely makes a broad range of public predictions about what will happen in the medium term, and you will find some they got hilariously wrong.
- pnw_hazor 8y agoWhat has he got right? "But what is certain at this point [12/2017] so far in Trump's presidency is that anyone who sold stock on the basis of predictions by liberal "experts" like Larry Summers or Paul Krugman or Steve Rattner missed out on a 30%-plus surge in their financial wealth. At some point the market will take a tumble and these discredited gurus will shout "see." https://www.investors.com/politics/columnists/and-the-hits-just-kept-coming-the-greatest-false-predictions-of-2017/ https://www.investors.com/politics/columnists/and-the-hits-j...
- bb88 8y agoHe predicted 2008 back in 2005. https://www.nytimes.com/2005/05/27/opinion/running-out-of-bubbles.html https://www.nytimes.com/2005/05/27/opinion/running-out-of-bu...