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Indeed. Take Brexit. Government economists stated as fact that there would be 400,000 job losses following a vote to leave (note: the vote, not actually leaving
by zigzigzag 9y ago
Indeed. Take Brexit. Government economists stated as fact that there would be 400,000 job losses following a vote to leave (note: the vote, not actually leaving itself). Absolute bloodbath. Reality: the economy grew.
Everyone knows economists say what they're paid to say, which is why they're so often ignored. Oddly, the people who tend to understand that best are often the ones derided as the "uneducated" voters and the people who continue to cling to their faith in economic modelling despite all the evidence it's worthless are often the "educated".
- Retric 9y agoIf you want to find an economist to support some statement that's easy, but does not mean that it's actually what most economists actually believe. It's like saying 4/5 Dentists recommend X by asking them if it's better to brush with crest or not brush at all. Or pay some group of 5 dentists that work for you and ask a more neutral question.