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The majority of Economists at the time also failed to predict the financial crisis. As a science, macroeconomics only has a limited set of historical data to go
by papaf 16y ago
The majority of Economists at the time also failed to predict the financial crisis. As a science, macroeconomics only has a limited set of historical data to go on and no ethical opportunities for lab experiments. Given this, perhaps we put too much trust in the predictions of experts.