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Right, but what people miss is that some people (usually not academic economists) are able to predict the economy with good levels of accuracy. It is not hard,
by skippyboxedhero 9mo ago
Right, but what people miss is that some people (usually not academic economists) are able to predict the economy with good levels of accuracy. It is not hard, there is a ton of data, the problem is that you have to drop your own personal interest in politics...for 99.99% of people feeling politically validated is more important than being right on the economy.
- threethirtytwo 9mo agoIsn't there reams of data on weather patterns too? I thought that like the weather, economic systems are fundamentally chaotic and thus demonstrably unpredictable. There's a whole field of math where we can create these mathematical models that simulate chaos and are fundamentally unpredictable. I was under the impression that Economics falls under the purview of this mathematical theory in terms of unpredictability. If I may ask, who are the people that do these predictions? What is there methodology and how do you know it's not luck?