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>Basically every year there are fears of recession. Not if you're an economist. We have some standard indicators to gauge economic growth, and those years you
by SantalBlush 7y ago
>Basically every year there are fears of recession.
Not if you're an economist. We have some standard indicators to gauge economic growth, and those years you mentioned looked fine according to most indicators.
The "economists don't know what they're doing" trope is overused. Economists are always wrong, but they still have a track record of being less wrong than everyone else.
- Fomite 7y ago"Economists have correctly predicted 9 of the last 5 recessions." https://www.bloomberg.com/news/articles/2019-03-28/economists-are-actually-terrible-at-forecasting-recessions https://www.bloomberg.com/news/articles/2019-03-28/economist...
- Izkata 7y agoMore like, predictably bad in a wisdom-of-the-crowd way that could actually result in a good prediction: https://www.bloomberg.com/opinion/articles/2019-07-19/recession-forecast-for-2020-economists-are-so-bad-they-re-good https://www.bloomberg.com/opinion/articles/2019-07-19/recess...
- Fjolsvith 7y agoSo, that's what economic math looks like!