Best Three Sentences I Read Today
25 August 2008 at 10:35 am Peter G. Klein 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.
Organizations and Markets 
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.