FYI: Since the global financial crisis and recession of 2007-2009, criticism of the economics profession has intensified. The failure of all but a few professional economists to forecast the episode – the aftereffects of which still linger – has led many to question whether the economics profession contributes anything significant to society. If they were unable to foresee something so important to people’s wellbeing, what good are they?
Regards,
Ted
http://www.project-syndicate.org/print/are-economists-good-by-robert-j--shiller-2015-01
