Best Three Sentences I Read Today

25 August 2008 at 10:35 am 1 comment

| Peter Klein |

Chris Dillow, wondering why doctors have such a good reputation, and economists such a poor one:

A man who’s been cured by a doctor lives to tell everyone. A man who’s been killed by one stays quiet. Economists’ “victims” — those stupid enough to believe forecasts — don’t keep schtum.

The rest of his reasons are interesting too. I think he focuses too much on economic forecasting, which is not in my view the same as economic analysis. The economy is not, after all, a “patient” to be taken care of and “cured” by the economist.

Entry filed under: - Klein -, Methods/Methodology/Theory of Science.

Don’t Ask Me What This Means Hayek, Read, Mises in the Classroom

1 Comment Add your own

  • 1. chris  |  26 August 2008 at 2:47 am

    Thank you – you’re very kind.
    I entirely agree that forecasting is not proper economic analysis. I focused upon this because it is what does most damage to economists’ reputation amongst lay people.

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